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Kuwait bourse down as Citibank forecasts lower GDP growth for 2011

The KSE Market Index dipped 0.27% on Thursday, bringing the year-to-down performance down to minus 16.14%, despite moderate gains in the banking sector index. In today's published Global Economic Outlook and Strategy, Citibank expects the Kuwaiti GDP to grow by 4.4% this year, down from 6.2% last year. For 2012, Citibank forecasts that the northern Gulf state's economy will grow slightly higher, by 4.7%.