Reuters expected in a recent poll the growth of the GCC economies in a faster pace than expected last July, warning that the decline in oil and gas prices represents the biggest risk to their expectations.
According to the survey, the Gulf region will benefit from the increase in the vaccination rate against the Coronavirus, the rise in oil prices, and the easing of closure restrictions this year and next, and the non-oil revenues will recover as the economy returns to growth after the recession last year caused by the Coronavirus.
Reuters predicted that the economies of Kuwait, Qatar, Oman and Bahrain will grow by more than 3 percent next year, indicating that the downside risks to the economies of the GCC countries are represented by the decline in oil and gas prices, as well as it is linked to geopolitical turmoil.
According to "Reuters", the Saudi economy is expected to grow by about 5.1 percent next year, up from previous expectations of 4.3 percent growth, and if this is achieved, it will be the fastest growth since at least 2013 when oil was trading at $109 a barrel.
Source (Al-Rai Newspaper-Kuwait, Edited)
