Economic Overview In January 2025, Kuwait’s economy exhibited signs of recovery following a contraction in 2024. The non-oil sector, encompassing real estate, manufacturing, and transport, played a pivotal role in this resurgence. Notably, the Al-Zour refinery operated at full capacity, bolstering the manufacturing sector. Lower inflation rates and reduced interest rates further stimulated private consumption…

Executive Summary Kuwait’s economic landscape in October 2024 reflected a mixed outlook. While GDP is forecasted to contract by approximately 3.2% due to OPEC+ oil production cuts, non-oil sectors showed moderate growth, driven by consumer spending and infrastructure projects like the Al-Zour refinery. Inflation is on a downward trajectory, expected to average 3.1% this year.…