Kuwait’s economic growth is set to hit 4.7% in 2007, declining from this year’s 6.2% forecasts, said the "World Economic Outlook" of the International Monetary Fund (IMF). According to the report, Kuwait’s economy expanded by 8.5% in 2005 and 6.2 % in 2004. Moreover, it said that the average economic growth for the Middle East in 2006 and 2007 was expected to come in at 5.8% and 5.4%, respectively.
The decline in forecast Middle Eastern growth coincided with the general forecasts of a fall in global economic growth; 5.1% for 2006 and 4.9% in 2007.
