The International Monetary Fund expected Kuwait’s real GDP would grow from 1.3 percent in 2021 to 8.2 percent in 2022, and 2.6 percent in 2023.
According to the data, Kuwait will achieve the best growth among the Gulf countries, as the Fund expected that the real GDP in the UAE will grow by 4.2 percent in 2022 and by 3.8 percent in 2023, reports a local Arabic daily.
The IMF expects Qatar’s real GDP to grow by 3.4 percent this year, and 2.5 percent next year; real GDP in Saudi Arabia will grow by 7.6 percent in 2022 and by 3.6 percent in 2023; Oman to achieve a growth of 5.6 percent this year and 2.7 percent in 2023, and Bahrain 3.3 percent in 2022 and 3.0 percent next year.
The IMF also announced that it raised the economic growth forecast in the Middle East and North Africa region by 0.6 percent to reach 5.8 percent in 2022.
The International Monetary Fund expected that Kuwait’s current account balance would rise to 31.3 percent of GDP in 2022 and 27.2 percent in 2023, compared to 16.1 percent in 2021. It pointed out that the unemployment rate reached 1.3 percent in 2021.
The Fund’s expectations of consumer prices in the Gulf countries and Egypt were as follows:
Saudi Arabia: by 2.5% in 2022 and by 2.0% in 2023
UAE: 3.7% in 2022 and 2.8% in 2023
Qatar: by 3.5% in 2022 and by 3.2% in 2023
Kuwait: by 4.8% in 2022 and by 2.3% in 2023
Egypt: 7.5% in 2022 and 11.0% in 2023
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