The Gulf Cooperation Council (GCC) countries remain pivotal to any business strategy in the Middle East and its growing importance in the regions business and trade activities cannot be ignored, according to Edmund OSullivan, Chairman, Middle East Economic Digest.
Speaking during a networking session in Dubai recently ahead of the second edition of the World Ports & Trade Summit (WPTS) 2012 that will run on April 2-4 in Abu Dhabi, he said while recession continues to pose concerns, the GCC countries are comparatively well entrenched having accumulated almost $1.5 trillion in surpluses since 2000. Besides, debt is generally low in these countries.
“”GCC states are forecasted by the IMF to generate at least $1 trillion worth of surpluses 2011-16. This is more than enough to finance all foreseeable infrastructure requirements and support continuing external investments,”" OSullivan said.
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