Recently-released data show that Kuwait’s non-oil economy grew by a subdued 0.9 per cent in 2011 as key sectors continued to feel the fallout from the financial crisis.
Growth in 2011 was affected by falls in output in the trade, manufacturing and finance sectors. The latter was likely affected by continued deleveraging at investment firms, according to a commentary from the National Bank of Kuwait.
Although growth has probably picked up a little since, a faster pace of government project spending and aggressive economic reforms are needed to provide a more permanent boost to growth.
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