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International Monetary Fund

Kuwait gets okay from IMF consultation team

The International Monetary Fund, IMF, Executive Board has announced that it concluded the 2019 Article IV consultation with Kuwait.

Proceedings saw discussions on the Financial System Stability Assessment, FSSA, of Kuwait and concluded on 25th March.

According to the IMF, growth has resumed in Kuwait, and the current account rebounded thanks to higher oil prices. Executive Directors noted that growth is expected to strengthen and the underlying fiscal position to gradually improve over the medium term.

Kuwait’s hydrocarbon output rose by 1.2 percent in 2018 after contracting a year earlier. Buoyed by a rebound in confidence and government spending, non-oil growth has also accelerated to 2.5 percent.

Given the volatility of oil prices and the exhaustible nature of oil resources, Directors underscored the need for timely and well-sequenced fiscal and structural reforms to reduce Kuwait’s dependence on oil, boost government saving, and create more private sector jobs.

After the first deficit in more than two decades in 2016, the current account shifted back into surplus in 2017 and reached an estimated surplus of 12.7 percent of GDP in 2018, the IMF findings indicated.

Inflation fell to a multiyear low of 0.7 percent due to falling housing rents, easing food prices, and a strengthening dinar, it said, adding, “while the overall fiscal balance has improved, financing needs remain large.”

Source: WAM

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One comment

  1. Angel NicGillicuddy

    The last sentence pretty much says it all.
    Hoardable money (the kind you loan)
    Is The Secret Evil Device
    Of The Dark Forces.
    ANY time more of it is issued,
    For ANY reason,
    The Beast is Fed.
    It’s not a Secret anymore.
    And we know how to fix this problem now,
    And how to END The Cycles
    ( The most cruel trick EVER
    played on Humanity
    And The Environment ).
    The Swamp
    Of hidden massive hoards of CASH
    ( ALL the dirty work is done with CASH )
    Will be drained soon.
    When the time is right
    I trust President Trump
    To call the shot
    And declare adjustable controllable Demurrage
    On The US Dollar.
    And then
    Our New Industrial Revolution
    and Renaissance
    Will continue uninterrupted
    and without interference
    From the problems of
    Using a form of money which can so easily
    Be removed from circulation
    to CAUSE The Cycles,
    Or clandestinely fund and escalate conflict
    All over the world
    For 100s of years.
    It’s about to end.
    And if that means Armageddon
    We will be ready.
    The United States will show The Way,
    For the rest of the nations to follow.
    That was and is our original intention.
    And now we finally have a President
    That knows “how money functions”
    Him and his Lazer Focused Team
    will accomplish The Mission
    Which was started long ago.
    And not even yourselves
    Will suffer
    Once The Spell is broke.
    It may be easier for “the last” to enter
    Through The Money Gate
    Then for the first.
    But we shall see you on the other side
    As we push THROUGH perverted Capitalism
    To the way it WORKS
    when we use un-hoardable money
    Starting as
    The US Dollar
    With adjustable controllable Demurrage.
    On Earth.
    The Beast is already on my side.
    And the People
    Are being prepared,
    especially the children
    Who will grow up seeing clearly
    “how money functions”.
    I am at your service too,
    Angel NicGillicuddy ?
    The Settlement

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