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Fitch Solutions anticipates that Kuwait’s budget deficit for 2019-2020 will reach 6.7 per cent of GDP. Various developments point to healthy economic performance in the near term for Kuwait. Fitch Solutions also estimated Kuwait’s economy would grow by 3.7 per cent in 2019, supported by improved oil production and increased crude oil prices, and by an average of 3.4 per cent between 2019 and 2022. ... 2019. January 21, 2019, 9:00 AM EST Updated on January 22, 2019, 6:18 AM EST ... Jassim Al-Saadoun, head of Kuwait-based Al-Shall Economic Consultants, called the budget “disastrous” -- … KUWAIT: Kuwaits economic growth picked up slightly in 2019, with gross domestic product (GDP) expanding by 0.4 percent to KD 39.4 billion (USD 130 billion) versus a year earlier, according to government statistics. The Gross Domestic Product (GDP) in Kuwait was worth 134.76 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. Overview: In 2019 Kuwait was the number 57 economy in the world in terms of GDP (current US$), the number 49 in total exports, the number 65 in total imports, the number 31 economy in terms of GDP per capita (current US$) and the number 63 most complex economy according to the Economic Complexity Index (ECI). Kuwait’s economic freedom score is 64.1, making its economy the 74th freest in the 2021 Index. Kuwait’s economic growth picked up slightly in 2019, with gross domestic product (GDP) expanding by 0.4 percent to KD 39.4 billion (USD 130 billion) versus a year earlier, according to government statistics. NOTE: 1) The information regarding Kuwait on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. All suggestions for corrections of any errors about Kuwait Economy 2019 should be addressed to the CIA. Kuwaiti officials plan to increase production to 4 million barrels of oil equivalent per day by 2020. No claims are made regarding the accuracy of Kuwait Economy 2019 information contained here. Estimates by world bank since 1960 in nominal terms and since 1990 in ppp terms at current and constant prices. GDP of Kuwait in nominal and ppp terms. Real GDP growth in the non-oil sector increased by three percent last year, reaching KD 1.85 billion (USD 5.9 billion), while the oil […] The Kuwaiti economy is heavily dependent on its oil and gas industry. Kuwait has a geographically small, but wealthy, relatively open economy with crude oil reserves of about 102 billion barrels - more than 6% of world reserves. OPEC+ oil output cuts in the first half of 2019 are expected to keep growth subdued at 1.6% in 2019. All the sectors are down, however predominantly, real estate is playing a major role and most active in the economic activities in Kuwait besides its drop in the last year. Kuwait economy based on oil and gas. 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