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IMF says Kuwait is on steady growth path

The International Monetary Fund has said Kuwait's economy is set to grow steadily in 2011 thanks to government spending and high oil prices after having risen more strongly last year, Reuters has reported. "The economy is expected to grow steadily in 2011 and over the medium term as the government implements the development plan and global recovery supports demand for oil," the IMF said in a document following regular consultations with Kuwait. Real GDP of the world's fourth-biggest oil exporter is projected to grow by 5.2% this year, slightly down from the IMF's April forecast of 5.3%.