The International Monetary Fund (IMF) said growth in Kuwait’s non-oil sector had strengthened in 2019 but lower oil prices and output cuts weighed on its oil sector, resulting in overall economic growth of about 0.7% in 2019, Trend with reference to Reuters reports.
That was down from growth of 1.2% in 2018, the fund said in a statement describing its preliminary findings at the end of an official visit to the country.
Non-oil gross domestic product (GDP) is expected to expand 3% and inflation could pick up to 1.8% this year, it also said.