Kuwait

Kuwait’s 2005 Article IV Consultation reports that the economic and financial positions are projected to remain strong mainly on the expectation that world oil prices will decline only gradually. Reflecting sharply higher oil prices and production, economic conditions improved significantly in 2003 and 2004. The main economic challenge facing Kuwait is to create sufficient employment opportunities for the rapidly growing national labor force by accelerating the growth of the private non-oil economy.Article IV consultation reports;Current account surpluses;Economic growth;Economic indicators;Economic reforms;Financial sector;Oil revenues;Staff Reports;credit, prices, payments, current account, balance of payments, oil prices, monetary union, domestic investment, price stability, trade relations, export price, regulatory framework, regional integration, current account surplus, wholesale price, trade gains, increasing investment, oil exporters, trade data, payment system, international standards, per capita income, transport sector, export growth, competition policy, current account balance, external tariff, pricing, wholesale price index, exchange rate regime, domestic banks, penalties, regional trade, domestic economy, external financing, unemployment rate, import duties, shareholders, foreign trade, tariff cuts, foreign ownership, real time gross settlement, short-term debt, free trade area, systemic risk, increased trade, exchange rate policy, domestic demand, exchange rate movements, value-added tax, tariff rates, domestic consumption, preliminary assessment, purchases, trade area, export markets, free trade, volume of trade, rtgs, producer price index, economic integration, external shocks, competition law, integration efforts