Kuwait ranked seventh richest country in the world – Qatar ranked first

Many of the world's richest countries are also the world's smallest

KUWAIT: A new US report shows that Kuwait is the seventh richest country in the world, according to a report released by the American economic research firm, reports Annahar daily.

The same report showed Qatar is ranked first in the world, but on the GCC level Kuwait takes second position after Qatar. The report said the reason for this was due to the strong financial position of Kuwait and the rise of economic indicators and the possession of about 8 percent of the proven reserves of world oil.

The report pointed out that the Qatari per capita GDP is about 135 thousand dollars, and according to the report the Kuwaiti is about 70 thousand dollars annually. The report said that the indicators of the Qatari economy gradually regained its balance and recorded a better improvement according to official figures of the state and international financial institutions.

The report pointed out that the Gulf countries occupy advanced levels due to the financial reforms carried out by those countries in order to achieve positive growth, and pointed to the decline of the UAE and Saudi Arabia in the world ranking by 3.5 and 5 percent, respectively, where the share of the UAE national 67 thousand dollars and the Saudi 57 thousand.

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