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World - Middle East - 2021-04-15
IMF calls for ‘strong’ fiscal consolidation in Kuwait
Middle East

IMF calls for ‘strong’ fiscal consolidation in Kuwait

  • The Gulf state's economy shrank by 8% last year, the Fund said in a statement on Thursday, adding that the country's fiscal balance worsened significantly year-on-year.
  • The IMF expects a gradual recovery and said that, as the recovery firms up, "strong fiscal consolidation and structural reforms would be needed to preserve fiscal buffers and strengthen growth."
Published 15 Apr, 2021 06:17pm