IMF sees emerging diversification in Kuwait

• Fund says Kuwait becoming dynamic economy
• Any infrastructure delays pose top domestic risk
• Vulnerable to swings in oil price

Kuwait is evolving from an “oil-dependent welfare state” into a “dynamic and diversified economy” as officials pursue ambitious reforms, the International Monetary Fund said in its latest annual assessment.

However, the IMF cautioned that any slowdown in structural reforms or delays to infrastructure projects would pose the most significant domestic risk to Kuwait’s diversification…