Economic growth is likely to slow in most of the Gulf’s wealthy oil exporters next year but governments will remain able to spend to counter the impact of any global slump, a Reuters poll of analysts showed yesterday.
Gross domestic product in Saudi Arabia, the biggest Arab economy and the world’s top oil exporter, is expected to expand 4.0 percent in 2012, down from an estimated 6.7 percent this year, according to the median forecast in a global poll of 18 analysts.
Next year’s growth forecasts were cut for all six members of the Gulf Cooperation Council compared with the last Reuters poll, which was conducted in September. The 2012 estimate for Saudi Arabia was reduced from 4.5 percent.
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