Economic Brief - May 2009

2.7

140

100
2.5
80
2.4
60
2.3

Inflation..................................................Page 7
December CPI: 9.0% yoy, back in single digits
Housing inflation declines from 10.2% yoy to
7.5%
Monetary Developments......................Page 8
Credit growth slow despite pickup in real estate
loans CBK cuts discount rate 25 bps to
3.5%.
Trade......................................................Page 9
Kuwaits trade balance showed a record surplus
in 2008 on the back of higher oil exports.
Real Estate...........................................Page 10
February Real estate sales remained weak
during first quarter of 2009SBC loans firm.
Corporate Earnings.............................Page 11
Net loss for 2008.

40

2.2
Apr 08

dollars per barrel

120

2.6

20
Jul 08

Oct 08

Oil Output (left)

Jan 09

Apr 09

Oil Price (right)

monetary indicators
(year-on-year percent growth)
40
35
30
25
20
15
10
Mar 08

Jun 08

Sep 08

Money Supply (M2)

Dec 08

Mar 09

Credit Facilities

Real estate sales activity

300

Kuwait Stock Exchange......................Page 15

KSE rallies in April.

500

250

400

million KD

200
300
150
200
100
100

50
0
Mar 08

000 KD / unit

Public Finance.......................................Page 5
FY08/09 Spending at 79% of budget, but should
be closer to 95% when final numbers are out

Kuwaits crude oil price and production

mn barrels/day

Oil Market...............................................Page 3
Higher crude prices supported by OPEC cuts,
recovery hopes... Kuwait budget likely to see
surplus in FY2009/10

0
Jun 08

Sep 08

Volume of Sales (left)

Dec 08

Mar 09

Average Price (right)

KUWAIT STOCK EXCHANGE

200

19000
16000

150

10000
50

0
Apr 08

7000
4000
Jul 08

Oct 08

Value of Traded Shares (left)

Jan 09

Apr 09
KSE Index (right)

index

million KD

13000
100