Koeweit 

Koeweit landenbeleid

Beleid vastgesteld op 30 maart 2010

• Geen beperkingen
• Er is een landenplafond van 2000 mln euro van kracht
• Het signaleringsplafond is 1500 mln euro
• - waarvan per 2011-12-31 9 mln euro benut is

Landenklasse: 2

Koeweit landenrapport

Atradius Dutch State Business Economic Research

Country Report last updated :   January 20rd, 2012   
Country :  KUWAIT 

Political Situation
Rather Stable Now

Head of state
Emir Sheik Sabah al-Ahmed al-Jabr al-Sabah. After being p.m. since 2003, Sheikh Sabah succeeded the late Sheikh Jaber in 2006. Born in 1929 he is said to be in good health.

Form of government
Outgoing government of p.m. Sheikh Nasser Mohammed al-Sabah. The cabinet resigned in November 2011 (for the 7th  time since 2006) after allegations of a corruption scandal involving members of parliament and the government. 
 
Internal Economic Situation
Recovered From The 2009-Recession

General situation
The oil funded public sector dominates the economy. Oil/gas  accounts for 50% of GDP and >90% of exports and fiscal revenues. After the 4.6% real GDP-fall in 2009, recovery since 2010 as private consumption and exports of oil have picked up. GDP-growth is also boosted by increased investments in the gas sector. After a peak in Dec 2010 (6% p.a.) inflation has come down as extensive subsidies prevent prices from rising too much. Despite increased public sector spending, high budget surpluses: 2011 >20% GDP. Public debt 7% GDP. On average strong banking sector but high exposure to real estate and consumer sectors (personal loans). The non-banking financial sector has turned out to be  more unstable reflected by the debt restructurings of two companies (Global Investment House and Investment Dar). 
 
External Economic Situation
Very Solid

Main sources of foreign exchange
Oil-gas (related) exports, income from overseas assets.

Main foreign markets
Asia (> 50%).

Main expenses of foreign exchange
Intermediate goods (40%), consumer goods (37%).

 
Balance of payments 
Very solid external accounts as witnessed by high trade/current account surpluses.