Rise In Economic Growth Forecast For All GCC Countries

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The International Monetary Fund (IMF) has raised the economic forecasts of all the GCC countries for 2018 and 2019 in its latest World Economic Outlook report.

The IMF attributed the upward revision to a pick-up in non-oil economic activity and a projected increase in crude oil production in line with the revised Organisation of Petroleum Exporting Countries Plus (Opec+) agreement.


The IMF has observed that the oil exporters from the Middle East region, with the exception of Iran, are expected to have a positive impact on their economic growth in 2018 and 2019. In the GCC, Oman’s 2019 estimated GDP growth of 5.05 per cent is the highest in the region.

Source Credit: Gulf News


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