Kuwait economy may contract by up to 2% in 2009

by Eman Goma Sunday, 01 November 2009

Kuwait's economy may contract by 1.5 to 2 percent this year before starting to grow again in 2010, central bank governor Sheikh Salem Abdul-Aziz al-Sabah said on Sunday.

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"We expect a growth but so far we have not found a proper figure to be estimated for 2010, it depends on so many variables," he said on the sidelines of a financial conference in Kuwait.
Asked how much he expected the economy to contract this year, the central banker replied: "From 1.5 to 2 percent." (Reuters)



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