Economic Outlook
Rising Deficit Kuwait’s financial deficit has accumulated to over KD 33.6 billion ($ 109 B) since 2015 and is projected to reach KD 60 billion ($196 B) by 2028/2029 if no changes are made to current financial policies. In 2024, The Minister of Finance proposed maintaining public spending and increasing non- oil revenues as measures to address the deficit. As the GDP and the economy relies heavily on oil prices, and as Kuwait works to diversify away from an oil-based economy, SAP play a key role by driving economic growth through enhancing efficiency and innovation across industries through its innovative business solutions. This can be in many ways, e.g. streamlining operations, enabling real-time data- driven decisions, and ensuring regulatory compliance. Additionally, SAP will support Kuwait’s sustainability goals, leading to a more resilient, competitive and sustainable economy. How SAP can help
Made with FlippingBook - PDF hosting