Kuwait: Staff Report for the 2003 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2004 Issue 186

Publication date: July 2004

ISBN: 9781451822304

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Investments and Securities-General , Economics- Macroeconomics , Public Finance , ISCR , CR , Kuwaiti dinar , government , economy , surplus , Kuwaiti economy , deposit rate differential , foreign direct investment law , revenue side , household expenditure survey , stock market-ha , IMF staff estimate , Oil prices , Fiscal stance , Foreign assets , Global

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Summary

The staff report for the 2003 Article IV Consultation on Kuwait highlights the economic developments and policies. The macroeconomic position over the medium term under current oil price expectations and the maintenance of a cautious policy stance is projected to weaken, but is not expected to pose sustainability issues. The implementation of the official reform program should be accelerated to further strengthen the fiscal position and create the institutional and legal environment needed for promoting private investment.