Investor Presentaiton
Overview of Kuwait
الوطني
NBK
Overview
■ The State of Kuwait is a sovereign state on the coast of the
Arabian Gulf with a population of 4.8 million
■ Kuwait is a constitutional monarchy, headed by His Highness
the Emir, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah
■ Kuwait enjoys an open economy, dominated by the
government sector. Its economy is primarily dependent on
the oil industry, but has witnessed growing contribution from
non-oil sectors
■ Kuwait has one of the lowest industry breakeven oil prices
globally and a fiscal breakeven lower than some other GCC
countries, making it more resilient to low oil prices. It has
accumulated substantial fiscal and external surpluses, which
serve as a buffer against volatile market conditions
■ Kuwait has a long-term policy vision under the banner of
"Kuwait Vision 2035". It encompasses six strategic aims:
increasing GDP growth, encouraging the private sector,
supporting human and social development, promoting
demographic policies, enhancing and improving the
effectiveness of government administration,
consolidating the country's Islamic and Arab identity
and
Fiscal breakeven oil price
80
80
77
Excl inv inc
Incl inv inc
75
73
75
72
70
70
66
65
70
65
60
60
55
55
68
57
54
62
62
57
660
54
55
55
50
48
50
46
45
45
45
45
40
40
13/14
14/15
15/16 16/17 17/18
18/19
19/20
20/21
Key Indicators
Sovereign Ratings
Current Account
Gov Revenues (% GDP)
Key economic indicators
2019F
2020F
Aa2/AA-AA (M/S/F)
$22.1 bn
-$3.2 bn
44%
31%
Public Debt (% GDP)*
11%
14%
* Assumes no debt issued in FY20/21
Sources: Central Bank of Kuwait, Central Statistical Bureau, Ministry of Finance, NBK estimates
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