The Reuters quarterly poll showed that the economies of the Gulf Cooperation Council countries have returned to growth this year, even if half of these countries will grow less than the previous expectations.
The economists revised their forecasts for the growth of the Kuwaiti economy this year, and it was reduced to 1.8 percent from 2.2 percent in the previous poll in light of the potential liquidity crisis facing the country. However, respondents raised their expectations to 3.5 percent for the next year compared to 2.7 percent% in their previous forecast 3 months ago, and as for their forecast for 2023, it was reduced to 2.9 percent from 3 percent.
Economists suggested that the Saudi economy would grow by 2.4 percent this year, compared with 2.8 percent in a similar poll 3 months earlier; while they expected the UAE economy to grow by 2.3 percent this year, up slightly from the 2.2 percent expected 3 months ago.
The economic growth forecast for Qatar in 2021 was unchanged from the previous poll at 2.8 percent, but rose to 3.6 percent for the next year from 3.5 percent in the previous poll.
The Omani economy was expected to grow by 1.9 percent this year, 3.2 percent next year, and 2.4 percent in 2023, compared to 2.1 percent, 2.7 percent and 2.5 percent in the previous poll.
According to economists' expectations, the Bahraini economy will witness the largest growth this year, at 2.9 percent, compared to 2.5 percent in the previous poll.
Source (Al-Rai Newspaper-Kuwait, Edited)
