The Report: Kuwait 2010


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Kuwait


Book Description

Kuwait’s economy was affected significantly by the global crisis. The financial sector experienced funding pressures and deterioration in asset quality. The economic outcome depends largely on government spending and the associated private investment. Stress tests indicate that the banking system can withstand shocks. The macroeconomic policy mix is adequate, but growth of current expenditures should be contained. Successful implementation of the growth agenda requires progress in structural reforms. The financial system’s oversight framework should be strengthened. The household debt relief law can undermine the financial culture.







The Report: Kuwait 2012


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The Report: Kuwait 2016


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Home to the largest per capita reserves and fourth-largest total reserves of crude oil within OPEC, Kuwait’s public finances have suffered in 2016 following the rapid decline in oil prices, which drove oil revenues down from $108.6bn in 2013 to $51.8bn in 2015. Despite this Kuwait has resisted significant budgetary cutbacks: spending levels in 2016 were cut by just 1.6%, and the considerable financial buffers built up from budget surpluses in the years leading up to 2014 are expected to cushion the budget deficit. The country continues to push ahead with key public investments, with Parliament allocating $155bn to the Kuwait Development Plan 2015-20 to fund infrastructure, utilities and housing developments. The plan focuses on further integrating the private sector into areas of the economy traditionally under state control and aims to raise the non-oil sector’s GDP contribution to 64% in 2015-20, up from an average of 45.1% in 2010-13. Elsewhere promising moves are being made to cut state subsidies, with the government opting to liberalise diesel and kerosene prices and reduce subsidies on aviation fuel in January 2015, generating savings equal to 0.3% of GDP.




Insecure Gulf


Book Description

Insecure Gulf examines how the concept of Arabian/Persian Gulf 'security' is evolving in response to new challenges that are increasingly non-military and longer-term. Food, water and energy security, managing and mitigating the impact of environmental degradation and climate change, addressing demographic pressures and the youth bulge and reformulating structural economic deficiencies, in addition to dealing with the fallout from progressive state failure in Yemen, require a broad, global and multi-dimensional approach to Gulf security. While 'traditional' threats from Iraq, Iran, nuclear proliferation and trans-national terrorism remain robust, these new challenges to Gulf security have the potential to strike at the heart of the social contract and redistributive mechanisms that bind state and society in the Arab oil monarchies. Insecure Gulf explores the relationship between 'traditional' and 'new' security challenges and situates them within the changing political economy of the GCC states as they move toward post-oil structures of governance. It describes how regimes are anticipating and reacting to the shifting security paradigm, and contextualizes these changes within the broader political, economic, social and demographic framework. It also argues that a holistic approach to security is necessary for regimes to renew their sources of legitimacy in a globalizing world.







The Report: Kuwait


Book Description

Kuwait is one of the biggest players in the global energy market, with its proven oil reserves currently the sixth largest in the world. Although revenues from hydrocarbons account for more than 60% of GDP and 95% of exports, the country’s low production costs and sizeable fiscal reserves mean it is well positioned to cope with lower oil prices in the short term. This is clear from the government’s ongoing commitment to delivering projects outlined in the national development strategy, Kuwait Vision 2035. In the financial services sector, Kuwait continues to perform well, as a series of regulations put in place by the Central Bank of Kuwait in recent years have served to shore up the sector’s recovery from the global economic downturn.




The Equal Pillars of Sustainability


Book Description

The Equal Pillars of Sustainability investigates whether equality between environmental protection, social sustainability, and economic sustainability can be achieved in all circumstances or what alternatives need to be considered via the latest research on topical issues by international experts.