Rising oil prices and massive government spending are likely to boost economic growth throughout the Middle East this year, but not enough to keep pace with the world’s most dynamic emerging market economies, a survey of forecasters by The Media Line shows.
Among the region’s leaders, Saudi Arabia’s $450 billion economy is expected to accelerate growth to 4.3% this year from an estimated 3.6% in 2010, according to a median of seven economists polled by The Media Line. Egypt, whose gross domestic product reached about $220 billion in 2010, will grow 5.7%, hastening from 5.1% in 2010, the forecasters say.
Qatar, a relatively small economy with a GDP of about $55 billion, is evolving into a major regional factor, propelled by rapidly growing energy revenues. Five forecasters surveyed by The Media Line see economic growth slowing but remaining well into the double digits – a median forecast of 14.3% this year versus 16% in 2010.
No comments:
Post a Comment