selected business news
"Kuwait economy to grow 3% in 2010 – NBK"
Posted August 14, 2010 by Lindsay Roberts
By: Shane McGinley, Arabian Business
The National Bank of Kuwait (NBK) expects the Kuwaiti economy to expand by 3% in 2010 and 4.3% in 2011. These figures highlight a major turnaround from 2009 when the economy faced negative growth due to low oil prices and the overall global recession. The study forecasts the largest growth in Kuwait’s banking and transportation sectors. The study also notes that, long-term, Kuwait will need to focus on expanding its non-oil economy (currently Kuwait controls approximately one tenth of the world’s oil wealth).
