Macroeconomic Forecast Kuwait

We expect public expenditure in Kuwait to increase in 2012. Although government spending plans in recent years have been persistently hampered by political gridlock in parliament, we expect growing public agitation - as illustrated by the wave of protest that hit the country in late 2011 - to translate into renewed impetus for a pickup in expenditure over the coming quarters. We forecast budget surpluses of 27.7% of GDP and 21.3% of GDP in FY2011/12 and FY2012/13 respectively

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