(MENAFN- Kuwait News Agency (KUNA)) Kuwait enjoys strong financial solvency and is projected to record budget surplus as the crude oil price stayed above USD 55 per barrel benchmark, a leading European economist said.
In a symposium organized by Kuwait Investment Company Monday, pan-European Candriam Investors Group Chief Economist Anton Brender expected that some Gulf countries would achieve lower-than-Kuwait surplus and some others could end up flat, with no surplus or deficit.
He pointed out that the recent oil price retreat had coincided with a huge surge in the US oil output.
On the US economy, Brender argued that the US economic indicators suggest an improvement in all income categories (high-medium- low), according to officials figures of March.
For her part, Candriam senior economist Florence Pisani said that investment in the euro zone started to grow again giving a good indication about near recovery in the region.
She added that the euro zone as a whole has experienced a growth in the business investments, with the exception of France, supported by a drop in euro price which played a key role in boosting exports.
Pisani noted that the European companies' share of world trade is on the rise.
Based on the current economic situation, the euro zone is projected to see 1.6 percent growth rate this year, she concluded.
Meanwhile, Kuwait Investment Company Deputy Director General for Assets Management Department Emad Tefoni said that the goal of the symposium is to acquaint its clients and Kuwaiti investors with the developments on global and regional economies.
Candriam is a leading pan-European multi-specialist asset manager with a 20-year track record and a team of 471 experienced professionals. Candriam has managed about 89.2 billion euros worth assets at the end of March 2015.
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