The World Bank expects regional GDP growth for the Gulf Cooperation Council (GCC) countries to rebound to 2.8 percent in 2024, before accelerating to 4.7 percent in 2025.
According to the report, with oil production quotas expected to gradually increase during the second half of2024, oil GDP is supposed to grow by 1.7 percent this year before rising in 2025 to 6.9 percent.
According to the IMF, non-oil GDP is expected to remain strong, growing by 3.6 percent in 2024 and 3.5 percent over the medium term, supported by expansionary fiscal policy, low interest rates, strong consumption, and private investment.
Source (Al-Arabiya.net Website, Edited)
