“Reuters” expected, in an opinion poll, that the Gulf Cooperation Council countries will witness the fastest economic growth in years, warning at the same time that the possibility of a drop in oil prices represents the greatest risk to these expectations.
Twenty-five economists in the poll conducted by "Reuters" expected that the six countries will witness growth during 2022 faster than what was expected three months ago. Saudi Arabia topped the list of expectations, with a growth of 5.7 percent, followed by Kuwait and the UAE, with a growth of 5.3 and 4.8 percent. Qatar, Oman and Bahrain are expected to see average growth of 3 to 4 percent in 2022. If this is achieved, this will be the best growth rate these countries have seen in several years.
According to "Reuters", despite the relatively tight fiscal policy and some external headwinds, the Gulf economies will witness faster growth in 2022 as they continue to benefit from the progress achieved last year. It turned out that although the forecasts for 2022 are still relatively constructive, there is a high degree of ambiguity, especially with regard to the evolution of the Corona virus pandemic.
The source (Al-Arab London Newspaper, Edited)
