Vehicle Sales Set To Recover In 2010

The global downturn has trimmed the automotive market in Kuwait, which had enjoyed several years of robust growth before the financial crisis. Several factors have made the impact of the global situation on the Gulf particularly deep, including plunging prices for the region's primary export, oil; the crash of once-booming real estate markets - most notably in Dubai; and a sharp tightening of liquidity in a region in which the economy had been driven in part by rapid credit growth. Furthermore, falling oil revenues have weakened previously strong fiscal positions, leading big-ticket projects to be put on hold in some

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