List of all articles filed under “kuwait-economy” category.
The main economic challenge is the over-dependence on the oil and gas sector. The outlook for Kuwait’s economy remains clouded by insufficient diversification efforts, lack of infrastructure for the development and overdue聽implementation of the Kuwait Development Plan.
Interview with Faisal Ali Al-Mutawa, Chairman and Managing Director of Bayan Investment Company.聽Mr. Al-Mutawa offers his views on the Kuwait investment sector and the overall investment climate in Kuwait. Unfortunately, his comments are more negative than positive and so are the forecasts about the investment sector in Kuwait.
Interview with Bader Al Humaidhi, Former Minister of Finance of KuwaitAccording to Mr. Al Humaidhi, the current situation in Kuwait is not very prosperous. Also, his outlook for the government and economy of Kuwait is not very positive. Is Kuwait awaiting difficult times?
鈥淭here hasn鈥檛 been much Kuwait oil development here in the past 20-30 years compared to the rest of the region.聽 However, with the new four year economic development plan we are going to be able to see where Kuwait can go to drive development and change鈥� – Wataniya Telecom 鈥檚 CEO Scott Gegenheimer
Kuwait plans to spend about 16 billion dinars (US$56bn) in the fiscal year starting April 1, 2010 one-third more than the current year as oil prices rise. The emirate, which expects to spend 12.1 billion dinars in the current fiscal year, posted a budget surplus of 2.74 billion dinars last year as it benefited from higher oil sales.
Kuwait strategic economic plan is worth 30 billion dinars (US$104 billion). On the agenda is a detailed roadmap to implement Kuwait economic plan a long-term strategy after years of short-term planning. It is the first of its kind since 1986.
Interview Bader Al Humaidhi.聽Kuwait鈥檚 government and parliament in 2008 issued a law that was organized by the Central Bank of Kuwait to boost economic growth in Kuwait. It had three objectives: to extend financial assistance through banks to financial institutions who were effected by the crisis, to help economic growth in Kuwait.
Mrs. Maha Al Ghunaim,聽Chairperson and Managing Director of Global Investment House.聽Our main challenge is to reposition the Global Investment House brand. The weak macroeconomic environment impacted Global Investment House operations negatively and in 2008 Global Investment House recorded our first loss in the company鈥檚 history. We are now working to deleverage the company, while maintaining our clients鈥� trust.聽 Global Investment House has revised its strategy to focus on our asset management, investment banking and brokerage activities and enhance our products and services.
