Gulf GDP forecast to expand at the fastest rate since 2015 | ZAWYA MENA Edition

Gulf GDP forecast to expand at the fastest rate since 2015 | ZAWYA MENA Edition:

"2018 marks a turning point for Middle East economies, allowing recovery for both oil exporters and oil importers, ICAEW’s latest report “Economic Insight: Middle East Q1 2018” revealed.

Overall, the Middle East’s GDP is expected to grow 2.9% this year, up from 1.1% in 2017. However, the accountancy and finance body says the political environment remains challenging and continues to pose a downside risk to headline growth.

Middle East Q1 2018, produced by Oxford Economics, ICAEW’s partner and economic forecaster, said the region’s overall economic outlook looks positive this year and in 2019, thanks to the rising oil prices (forecast at $67 per barrel this year), expansionary fiscal policy and relative improvements in the overall security conditions."



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