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Kuwait GDP growth could reach 5.4%

The National Bank of Kuwait has said the Gulf country's GDP growth is likely to reach a healthy-looking 5.4% in 2012, but growth in the non-oil sector, at 4%, will remain below the regional average. The country's consumer price inflation is expected to average 3-4% this year and next, little changed from recent levels, NBK said in the report. Key factors holding the economy back are the slow pace of execution of the government's four-year development program (2010/11-2013/14), and lingering effects from the financial crisis, which have undermined business confidence, said the report.