Gulf economies’ growth forecasts cut as oil stays low | GulfNews.com

Gulf economies’ growth forecasts cut as oil stays low | GulfNews.com:



"The outlook for most of the Gulf Arab economies has dimmed for this year and next as oil prices have remained relatively low, according to a Reuters poll published on Wednesday that showed economists cutting their forecasts.



This year’s growth forecast for the United Arab Emirates, which is less reliant on oil because of Dubai’s diverse economy, has been cut to 3.4 per cent from 3.8 per cent, and next year’s to 3.7 per cent from 3.9 per cent.



Qatar is expected to be by far the best-performing of the six Gulf Cooperation Council economies, as the world’s top natural gas exporter steps up a vast infrastructure building programme. Qatari GDP is projected to grow 6.7 per cent this year and 6.4 per cent next year."



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