Middle East and Central Asia > Kuwait

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
  • Manpower policy x
Clear All Modify Search
International Monetary Fund
The GCC growth model has delivered substantial improvements in living standards over several decades. Access to foreign labor has supported rapid growth in the non-oil sector and price stability in the region. It has also resulted in positive spillovers to the migrant-sending countries through large remittance flows. At the same time, governments have increased public-sector employment and have helped raise standards of living. However, the growth model has involved costs: the public-sector wage bill is relatively high, there is limited employment of nationals in the private sector, labor productivity has declined or stagnated, and there is limited progress on economic diversification
International Monetary Fund
Improved terms of trade and sound macroeconomic policies have helped strengthen Kuwait's financial situation. The government should move forcefully to implement its structural reform program. Monetary policy is rightly focused on maintaining the credibility of the pegged exchange rate arrangement and achieving price stability. The pegged exchange arrangement, open capital account, and prudent fiscal and monetary policies have served Kuwait well, keeping inflation low and reinforcing confidence in the economy. The government has been commended for maintaining a generous foreign assistance program.