DUBAI: The Middle East’s regional GDP will grow by 2.4 percent this year according to a report commissioned by the Institute of Chartered Accountants in England and Wales (ICEAW). It represents a similar rate to the region’s average growth trajectory in the last decade, as countries double down on their pandemic exit strategies. The report reveals that business confidence in
DUBAI, 6 hours, 45 minutes ago The gross domestic product (GDP) of the GCC will grow by 2.1% this year, after the 5% contraction seen in 2020, a report said, noting as business confidence in the region has strengthened in recent months as coronavirus restrictions eased and vaccination rollouts progressed. However, while there are positive signs for recovery in the second half of this year and beyond, economies still remain far from their pre-pandemic levels, according to the latest Economic Insight report for the Middle East compiled by Oxford Economics and commissioned by ICAEW. The Middle East’s regional GDP will grow by 2.4% this year, a similar rate to the region’s average growth trajectory in the last decade, and an improvement from the 4.4% it shrank by in 2020, it said.
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