The GCC ecomony could fall into recession if the current global economic crisis lasts for more than a “couple of years”, the former acting secretary general of OPEC has warned.
In an interview with the Kuwait news agency KUNA, Dr Adnan Shihab Eldin said the Gulf countries were being spared the worst of the financial crisis for the time being.
The region would enjoy on-going positive economic growth of between two and three percent for 2009, although lower than the seven and or eight percent the region has been used to.
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