Kuwait’s economic transformation gathers momentum, says World Bank

• Ziad Al-Nakat, the World Bank’s Resident Representative in Kuwait, stated that the bank projects 2.5% economic growth for Kuwait in 2025 and will release a detailed report on its economic performance in the coming weeks.

In a distinguished Ramadan gathering, the World Bank office in Kuwait hosted an event at the St. Regis Hotel, bringing together diplomats, economic leaders, and public figures to celebrate the holy month and strengthen ties with Kuwaiti society.

Ziad Al-Nakat, the World Bank’s Resident Representative in Kuwait, expressed his delight at the distinguished attendance, emphasizing that the Ghabqa reflects the World Bank’s pride in being part of Kuwait’s economic and social fabric. He added, “Ramadan in Kuwait is marked by traditions that bring people together, fostering a spirit of love and connection. With this in mind, we wanted to share this festive atmosphere with our friends.”

Speaking on Kuwait’s economic classification and development prospects, Al-Nakat explained that the World Bank projects 2.5% economic growth for Kuwait in 2025.

He emphasized that the bank regularly updates its data and will release a detailed report on Kuwait’s economic performance in the coming weeks.

He added, “Kuwait is witnessing an ambitious economic transformation, driven by the determination of its people, propelling development in the right direction.”

Regarding the partnership between the World Bank and Kuwait, Al-Nakat highlighted the longstanding relationship dating back to 1961 with Kuwait being one of the bank’s contributing countries. He stressed that the establishment of the World Bank’s office in Kuwait in 2009 aimed to strengthen cooperation and expand it to new horizons.