A social-accounting-matrix-based long-term economy-wide model for a typical oil-producing Gulf country is constructed and used to simulate the development path of the Kuwaiti economy up to 2015. The model represents a flexible tool that captures the common structural features, economic problems and policy issues facing the Gulf Cooperation Council (GCC) countries. From a technical point of view, the model is in the structuralist computable general equilibrium tradition with static within-period and dynamic interperiod components. The model is solved every 5 years with a flexible parameter adjustment scheme, and a dynamic mechanism to update the capital stock, population size, labour force profile and financial assets held abroad.