KUWAIT ECONOMY TO RECOVER IN 2022

  • 26/09/2020

Kuwait:The international credit rating agency, Standard & Poor’s (S&P), said that the rating risks related to the Kuwaiti economy is that Kuwait is completely dependent on oil revenue which is 90% of its exports.Standard & Poor’s expected the recovery of the Kuwaiti economy to gather momentum from 2022, in addition to real GDP growth on average to reach 7% during 2022 and 2023.  The impact of the epidemic on the oil industry will have a direct impact on the wider Kuwaiti economy, similar to the situation in most other countries of the world during the current year.The agency evaluated the insurance sector of Kuwait at a medium level, indicating that the general and health insurance sector in the country will remain profitable in general.

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