Gulf Arab economies to accelerate modestly through 2020: Reuters poll | Reuters

Gulf Arab economies to accelerate modestly through 2020: Reuters poll | Reuters:

Gulf Arab economies are likely to accelerate over the next couple of years as governments boost spending, but growth will not return to the boom levels enjoyed before oil prices plunged in 2014, a quarterly Reuters poll of economists found.

Since mid-2018, the countries have been increasing oil production as restrictions imposed by a global agreement to restrain output have eased. This is expected to inflate gross domestic product in their oil sectors.

Meanwhile, higher oil prices are giving governments more money that they can spend to stimulate demand in the non-oil parts of economies. Brent crude LCOc1 is above $80 a barrel, near four-year highs, up from around $75 three months ago.