KUWAIT'S OIL RESERVES ARE EXPECTED TO LAST 90 YEARS AT CURRENT PRODUCTION RATES

  • 04/11/2021

Kuwait City: Moody's Credit Rating Agency says Kuwait's economy is boosted by exceptionally high wealth and large reserves of hydrocarbons. The agency attributed the country's high rating (A1) to this strong economy. However, Kuwait lags behind other countries in the region in developing non-oil and private business sectors.


The continuing heavy pressure on the oil industry is causing fluctuations in economic performance. The management of the country's monetary policy is a great strength. Kuwait's oil resources support a high level of per capita income. Kuwait has the seventh largest oil reserves in the world. At the current production rate, the country's oil reserves will last for 90 years, the agency said in its Investors Services report.

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