Kuwait plan for value-add tax by 13 welcomed
KUWAIT CITY (Agencies): Kuwait’s economy will grow steadily in 2011 thanks to government spending and high oil prices after having risen more strongly last year, a document by the International Monetary Fund (IMF) showed on Thursday. Kuwait’s real GDP is projected to grow by 5.2 percent this year, slightly down from the IMF’s April forecast of 5.3 percent.“The economy is expected to grow steadily in 2011 and over the medium term as the government implements the development plan and global recovery supports demand for oil,” the IMF said in a document following regular consultations with Kuwait. In 2010, Kuwait’s economy is estimated to have grown by 3.3 percent, the IMF said, well above its previous estimate of 2.0 percent..
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