GCC — the oil-rich bloc that’s facing a new era | GulfNews.com:
"The Gulf Cooperation Council (GCC) — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE — are now among the world’s 30 richest countries in terms of GDP per capita and fared well compared with emerging markets, developed markets and the world economy throughout 2008-14. However, the latest episode of falling oil prices that started in mid-2014 saw average growth rates plummet throughout 2015-16, reaching only 0.3 per cent in 2017, based on our estimates. The lower-for-longer oil prices ($67 [Dh246] by the end of 2017 compared with an average of $100 during 2008-14) and subsequent lower growth are creating three big challenges for the GCC."
'via Blog this'
No comments:
Post a Comment