Sunday 18 August 2013

Global recognition for GCC economies | GulfNews.com

Global recognition for GCC economies | GulfNews.com:

"The economies of Gulf Cooperation Council (GCC) countries are undergoing exceptional experiences. This is demonstrated through sustained growth levels of the gross domestic product (GDP) of the six-nation grouping.
The IMF projects real, adjusted for inflation, GDP growth level above 4 per cent in 2013 thanks primarily to developments in non-oil sectors. Suffice to say that Saudi Arabia and Qatar are using oil proceeds to develop local metro systems at the cost of billions of US dollars.
To be sure, combined value of GCC economies is outstanding by global standards. The GDP of GCC is estimated at $1.5 trillion. This is a sizable amount by virtue of representing just above 2 per cent of the worldwide GDP."

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