Kuwait's economy contracted by 9.9% in 2020 -state news agency

Sharp drop in oil prices

  
An aerial view taken with a drone shows Kuwait National Assembly building in Kuwait City, Kuwait October 7, 2020.

An aerial view taken with a drone shows Kuwait National Assembly building in Kuwait City, Kuwait October 7, 2020.

REUTERS/Stephanie McGehee

DUBAI- Kuwait's gross domestic product contracted 9.9% last year, compared with growth of 0.4% in 2019, mainly because of the sharp drop in oil prices, state news agency KUNA reported on Sunday.

(Reporting by Ghaida Ghantous Writing by Yousef Saba Editing by David Goodman ) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))


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