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WorldApril 2 2013

New government incites new-found optimism in Kuwait

In the past year, political turbulence has dented Kuwait's otherwise healthy economy, with political infighting effectively blocking the government's $130bn economic development plan (EDP). But a new government, elected in December 2012, looks set to put an end to the country's political problems and kick-start the EDP.
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New government incites new-found optimism in Kuwait

The phrase you hear most in Kuwait these days is, “it takes time”. Unlike a year ago, when the stalemate between the country's government and parliament meant that the most common words being bandied about were “blockages”, “delays” and “stagnation”, recent months have witnessed a transformation of attitudes, a new-found optimism and a more positive environment in which the political paralysis that has dogged the economy in recent years appears to be, slowly but surely, retreating.

Has Kuwait turned a corner; has one of the world’s biggest oil producers put its domestic problems behind it? It is perhaps too early to tell, but a number of indicators suggest that the new-found optimism is justified.

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