GCC economies likely to grow at 3.9% in 2023 – Mubasher Capital

GCC economies likely to grow at 3.9% in 2023 – Mubasher Capital

The six GCC economies are expected to grow at 3.9% throughout 2023, which marks twice the pace of the estimated world growth of 1.7%, according to a recent report by Mubasher Capital.

As governments plan to boost the growth of their non-oil sector, four out of the six economies registered fiscal surplus in 2022.

Mubasher Capital added that the stocks trading on the GCC stock markets offer a broad diversification under 11 sectors.

Furthermore, there are 368 out of the 668 GCC companies which disburse cash dividends that are sufficiently distributed among sectors.

“Cash dividends are almost tax-free in the majority of GCC markets and capital gains are completely tax-free,” Mubasher Capital stated.