GCC growth in strong rebound | ZAWYA MENA Edition

GCC growth in strong rebound | ZAWYA MENA Edition:

"The GCC countries are marking a turning point in 2018 as their economies overcome two difficult years of a low oil price environment and various austerity measures, economists and analysts said. While the combined GDP of the GCC is expected to hit 2.4 per cent from 0.1 per cent last year, expanding at the fastest rate since 2015, the wider Middle East region's GDP is expected to grow 2.9 per cent in 2018, up from 1.1 per cent in 2017. Mohamed Bardastani, ICAEW economic advisor and senior economist for Middle East at Oxford Economics, said Middle East economies are recovering from the difficult years of a low oil environment, various austerity measures and geopolitical risks. "



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