Middle East Economic Survey

VOL. XLVIII

No 21

23-May-2005

KUWAIT

Kuwaiti Economy Buoyed By Oil And Iraq Trade, Says IMF

The performance of the Kuwaiti economy in 2003-04 strengthened further due to higher oil prices and production and trade with Iraq, according to the IMFs latest article IV consultations concluded on 25 April. Real GDP grew at an annual average rate of 8.5% in 2003-04 the highest level since 1990. Inflation remained low at 2%, while unemployment, although a major challenge,...