The rating agency said that the Kuwaiti economy is still dependent on oil returns, which accounts for 90% of exports.
Дни след като Великобритания обяви специален пакет за подкрепа на стартъпи “Future Fund”, българката Цвете Дончева събра някои…2002 Views | the publication reaches you by | The Bulgarian Business Club
Earlier in January, informed sources told Reuters that OPEC+ might extend its current oil production reduction agreement to June in case March meeting was postponed.
“The stable outlook reflects our expectation that Kuwait’s public and external balance sheets will remain strong over the next two years, primarily underpinned by sizable foreign assets accumulated in the country’s sovereign wealth fund,” S&P noted.
S&P added that Kuwait has substantial savings of over 400% of GDP accumulated within its sovereign wealth fund.
Kuwait’s net general government asset position is expected to reach 420% of GDP by the end of 2019, considered the highest ratio of all rated sovereigns, the rating agency maintained.
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