OUT OF ALL THE GCC NATIONS, KUWAIT WILL EARN MOST MONEY FROM OIL SALES

  • 30/07/2022

Kuwait City: Inflation in the nations of the Gulf Cooperation Council has increased at a moderate rate in comparison to other nations, according to credit rating firm Moody's. Kuwait is ranked third among the GCC nations in terms of growing inflation, which was measured at 4.5 percent on an annual basis until last May, according to the Moody's analysis. UAE's inflation rate is 5.7 percent, Qatar's is 5.4 percent, Oman's is 3.5 percent, Bahrain's is 2.9 percent, and Saudi Arabia's is 2.3 percent. 


According to a survey by Moody's, the average rate of consumer price inflation in the Gulf economies increased to 3.8 percent in May from 1.7 percent in 2021. Among the Gulf economies, Kuwait is most likely to have the largest annual gain in oil revenues. It will amount to 15% of GDP. The remarkable economic growth for the Gulf nations, according to the Moody's research, will aid in limiting domestic fuel prices.

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