July 14, 2019 / 8:28 AM / a month ago

UPDATE 1-Kuwait GDP in Q1 increases 2.6% year-on-year

(Adds details, background)

DUBAI, July 14 (Reuters) - Kuwait’s gross domestic product grew 2.6% at constant prices in the first quarter of 2019 from a year earlier, according to Kuwait’s Central Statistical Bureau.

Oil sector grew at 1.3% in the first quarter and non-oil sector expanded at 4.1%, the data showed.

OPEC-led production curbs have hit oil-related growth among Gulf energy producers this year.

The International Monetary Fund expects Kuwait’s economy to grow 2.5% this year, up from an estimated 1.7% in 2018. (Reporting by Asma Alsharif; editing by Christian Schmollinger and Saeed Azhar)

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