Gulf economies poised for sustained growth | GulfNews.com

Gulf economies poised for sustained growth | GulfNews.com:

"Hydrocarbon-based Gulf Cooperation Council (GCC) economies are using their fiscal strength to drive near-term growth and diversify their economies to reduce long-term risks, Standard Chartered economists said in mid-year outlook for the region’s economies.
“In the Middle East, the growth outlook for the oil-rich GCC is positive, despite ongoing tensions in other parts of the region,” said Marios Maratheftis, global head of macro research at Standard Chartered Bank.
While the UAE’s real gross domestic product is projected to grow 3.4 per cent and 3.6 per cent respectively in 2013 and 2014, Saudi Arabia’s GDP is expected to grow 4.8 per cent and 4.2 per cent respectively in the same period."

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