Report: Will the Covid-19 pandemic accelerate Kuwait’s economic diversification efforts?

Text size +-
Share

Kuwait’s economy is characterised by a number of factors that helped it to withstand the severe strains caused by the pandemic. Deep and productive oil fields had contributed to high GDP per capita and one of the world’s largest sovereign wealth funds, while public debt levels were the lowest in the GCC. As such, Kuwait had the fiscal space to enact an effective response to economic challenges, although a ballooning fiscal deficit requires policymakers to accelerate private sector development efforts. With advanced digital infrastructure in place and one of the world’s highest household internet penetration rates, Kuwait was well placed to facilitate remote working, learning and commerce as Covid-19 containment measures were imposed. ICT has been one of the major drivers of inward foreign direct investment over the past five years, and the acceleration of corporate digital transformation and consumer acclimatisation bodes well for further growth.

This Covid-19 Recovery Roadmap was produced in partnership with the Kuwait Direct Investment Promotion Authority.

Click here to download full report

Share

Covid-19 Economic Impact Assessments

Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.

Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.

Register Here×

Product successfully added to shopping cart

Read Next:

In The Middle East

ESG Trends 2021: Energy Transition

The shift away from hydrocarbons and towards sustainable forms of energy continued in 2021, with new renewable generation capacity set to reach an all-time high and the international community...

In Economy

Report: What are the post-pandemic prospects for Qatar’s start-ups and...

The disruption to daily life created by the pandemic has precipitated an acceleration of the digital transformation process already under way in the corporate sector in Qatar, with private firms...

Latest

Report: What are the post-pandemic prospects for Qatar’s start-ups and...

The disruption to daily life created by the pandemic has precipitated an acceleration of the digital transformation process already under way in the corporate sector in Qatar, with private firms...