IMF suggest Kuwait are in great financial shape

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While economies all over the globe continue to deteriorate, the Kuwaiti economy appears to be in rude health if recent reports are to be believed.

The International Monetary Fund (IMF) recently predicted that the country’s economic growth for 2011 could be as much as 5.7%, compared to a projected figure of 4.0% globally.

A new report produced by the Oxford Business Group also praises the direction which Kuwaiti financial affairs appear to be heading, suggesting that the country’s economy continues to “grow enviably”.

The news follows on from a report published by the investment bank Global Investment House which suggests that residential real estate markets in Kuwait and Saudi Arabia are increasingly becoming attractive for investors.

The report also suggested that rents in Bahrain remained under pressure during the second quarter of this year, but demand for affordable housing was still firmly intact.

Oman residential rates continued to decline throughout the second quarter of 2011. Industry specialists estimated the year to date rental decline was at 15%.

The report was also notably positive about the Qatari property market. The residential market there is showing signs of stabilisation and the signs for the future are thought to be largely encouraging.

In fact, the signs for the Kuwaiti economy in general appear to be positive. All those within the country, or with investments tied up there, will be hoping that this trend continues.

Transfer Money to Kuwait

If you are looking to invest in Kuwait, think carefully about how you will be transferring money to Kuwait. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are looking to send money worldwide – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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IMF suggest Kuwait are in great financial shape

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