
Kuwait Projects, H1 2022 - Outlook of Major Projects in Kuwait - MEED Insights
Description
Kuwait Projects, H1 2022 - Outlook of Major Projects in Kuwait - MEED Insights
Summary
Political climate
The frequent standoffs between the cabinet and parliament have meant that many potentially useful economic reforms and major projects have not moved forward, as the government has been unable to secure approval from MPs for its plans.
The underlying dynamic of pressure from members of parliament and their constituents to have greater influence over the detail of government policy is, in part, fuelled by a view that the ruling Al-Sabah family and its allies are gaining disproportionately from Kuwait’s oil and gas riches. While the tensions between the executive and the parliament have made it harder for the government to move ahead with a reforming policy agenda, there is only limited appetite for major constitutional change in the country.
Economic climate
Until recently, government revenues easily outpaced expenditure in most years, allowing the government to accumulate substantial savings. However, the gap narrowed notably in 2016 when it measured just 0.3 per cent of GDP. In the years before then, the gap was often around 30 per cent or more of GDP.
Written by MEED, the Middle East market experts within the GlobalData Group, Kuwait Projects H1 2022, the situation improved somewhat in the following three years, but the Covid-19 crisis led to a further reversal, with government net borrowing reaching 8.3 per cent of GDP that year. The situation is expected to stabilise in the coming years, according to IMF projections. IMF further stated that, after contracting by 8.1 per cent in 2020, the Kuwait’s GDP is estimated to have grown by 0.9 per cent in 2021 and is projected to grow by 4.3 per cent in 2022.
Reasons to Buy
Summary
Political climate
The frequent standoffs between the cabinet and parliament have meant that many potentially useful economic reforms and major projects have not moved forward, as the government has been unable to secure approval from MPs for its plans.
The underlying dynamic of pressure from members of parliament and their constituents to have greater influence over the detail of government policy is, in part, fuelled by a view that the ruling Al-Sabah family and its allies are gaining disproportionately from Kuwait’s oil and gas riches. While the tensions between the executive and the parliament have made it harder for the government to move ahead with a reforming policy agenda, there is only limited appetite for major constitutional change in the country.
Economic climate
Until recently, government revenues easily outpaced expenditure in most years, allowing the government to accumulate substantial savings. However, the gap narrowed notably in 2016 when it measured just 0.3 per cent of GDP. In the years before then, the gap was often around 30 per cent or more of GDP.
Written by MEED, the Middle East market experts within the GlobalData Group, Kuwait Projects H1 2022, the situation improved somewhat in the following three years, but the Covid-19 crisis led to a further reversal, with government net borrowing reaching 8.3 per cent of GDP that year. The situation is expected to stabilise in the coming years, according to IMF projections. IMF further stated that, after contracting by 8.1 per cent in 2020, the Kuwait’s GDP is estimated to have grown by 0.9 per cent in 2021 and is projected to grow by 4.3 per cent in 2022.
Reasons to Buy
- Opportunities and challenges in Kuwait’s projects market
- Analysis of the pipeline of planned projects and contract awards
- Key policies and drivers shaping the outlook for projects in Kuwait
- Political and economic background
- The barriers and challenges that may arise
- Sector-by-sector breakdown of future project plans
- Key drivers of projects in each sector
- Kuwait’s most valuable key projects and major project sponsors
Table of Contents
86 Pages
- EXECUTIVE SUMMARY
- Kuwait
- Economy
- Economic Outlook
- Budgets
- Projects Market Overview
- Projects Market Size
- Kuwait Projects Market by Project Status
- Projects Market By Sector
- Kuwait Project Contract Awards By Year, 2012-21 ($m)
- Kuwait Contract Awards by Sector, 2012-21 ($m)
- Kuwait project contract awards, July-December 2012-2021
- Kuwait Project Contract Awards By Number, 2012-21 ($m)
- Biggest Clients
- Biggest Contractors
- Top Projects
- Future Pipeline
- Future Pipeline by Sector
- Top Future Projects
- Biggest Future Clients
- COVID-19 – IMPACT ON FORECAST
- Oil and Gas Sector Overview
- Oil and Gas Sector Contract Awards by Year, 2012-21 ($m)
- Oil and Gas Sector Projects by Status
- Oil and Gas Projects Market by Subsector
- Oil and Gas Sector Contract Awards by Subsector, 2012-21 ($m)
- Oil and Gas Sector Biggest Clients
- Oil and Gas Sector Biggest Contractors
- Top Oil and Gas Sector Projects
- Un-awarded Oil and Gas Sector Contracts by Status
- Un-Awarded Oil and Gas Sector Projects by Subsector
- Top Oil and Gas Sector Future Projects
- Biggest Oil and Gas Sector Future Clients
- Construction Sector Overview
- Construction Sector Contract Awards by Year, 2012-21 ($m)
- Construction Sector Projects by Status
- Construction Projects Market by Subsector
- Construction Sector Contract Awards by Subsector, 2012-21 ($m)
- Construction Sector Biggest Clients
- Construction Sector Biggest Contractors
- Top Construction Sector Projects
- Un-awarded Construction Sector Contracts by Status
- Un-Awarded Construction Sector Projects by Subsector
- Top Construction Sector Future Projects
- Biggest Construction Sector Future Clients
- Transport Sector Overview
- Transport Sector Contract Awards by Year, 2012-21 ($m)
- Transport Sector Projects by Status
- Transport Projects Market by Subsector
- Transport Sector Contract Awards by Subsector, 2012-21 ($m)
- Transport Sector Biggest Clients
- Transport Sector Biggest Contractors
- Top Transport Sector Projects
- Un-awarded Transport Sector Contracts by Status
- Un-Awarded Transport Sector Projects by Subsector
- Top Transport Sector Future Projects
- Biggest Transport Sector Future Clients
- Power and Water Sector Overview
- Power and Water Sector Contract Awards by Year, 2012-21 ($m)
- Power and Water Sector Projects by Status
- Power and Water Projects Market by Subsector
- Power and Water Sector Contract Awards by Subsector, 2012-21 ($m)
- Power and Water Sector Biggest Clients
- Power and Water Sector Biggest Contractors
- Top Power and Water Sector Projects
- Un-awarded Power and Water Sector Contracts by Status
- Un-Awarded Power and Water Sector Projects by Subsector
- Top Power and Water Sector Future Projects
- Biggest Power and Water Sector Future Clients
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.