Economy / Kuwait
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Macroeconomic Forecast Kuwait
June 2006 | Macroeconomic ForecastsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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We have revised our oil price assumptions up since last quarter, leading us to increase our growth forecasts for 2006 and 2007. There are downside risks: in particular, the stock market downturn earlier this year poses a key risk to private consumption, as many Kuwaitis have lost money, while many more will suffer from lower confidence. However, given the strength of oil prices, and the government's consequent ability to cushion the economy against the stock market shock, we expect growth of 5.7% in 2006 and have increased our 2007 growth forecast to 6.1%. The key concern here is that high