As Kuwait’s economy continues to adjust to the new oil price environment the country’s government is pushing ahead with investment plans and reforms that promise to put the country on a sustainable growth path in the coming years.
After facing headwinds such as depressed international energy prices, and rising debt and fiscal imbalances, Trinidad and Tobago’s economic recession appears to be turning a corner, with GDP growth projected to climb to 0.3% in 2017 and 3.4% in 2018. As one of the largest and most diversified economies in the English-speaking Caribbean, the country is beginning to benefit from the new administration’s process of fiscal adjustment and economic diversification, spurred on by an ambitious public works pipeline.
Over the last two decades Peru has been one of the fastest-growing economies in the region. Remarkably resilient to global headwinds, positive GDP growth has continued despite the end of the commodities boom. Yet the growth rate has slowed and the initial impetus of a first wave of structural reforms has faded. The question now is whether the current administration can address problems, implement further reforms and re-accelerate the economy.
While reduced oil prices are undoubtedly a concern for the emirate’s authorities, economic diversification efforts of recent years mean Abu Dhabi is well placed to weather a prolonged period of subdued prices. Vision 2030 meanwhile contains a raft of goals that will further reduce the emirate’s reliance on hydrocarbons, and continue to foster the emergence of a more sustainable and knowledge-based economy in the years ahead.
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