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Article: Politics drag Kuwait behind Gulf partners.
- Article from:
- Times of Oman (Muscat, Oman)
- Article date:
- October 5, 2009
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KUWAIT CITY: Political volatility means Kuwait lags behind most of its energy-rich Gulf peers, but the emirate is still on track to post the largest surplus in the region, Bank of America Merrill Lynch said on Monday.
"The lack of political determination for (economic) diversification has caused Kuwait to lag behind most of its GCC (Gulf Cooperation Council) neighbours," the bank said in its quarterly report on the region. "The volatile political cycle and populist policies have also been a drag," it said.
But the report also said that limited investment and spending commitments mean Kuwait will continue to post the largest GCC surplus, estimating this ...