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The economies of the Gulf Cooperation Council (GCC) are projected to grow at a slower pace in 2023 compared to the previous year, in the face of lower oil and gas earnings and a global economic slowdown, according to the new World Bank Gulf Economic Update (GEU). The GCC is expected to grow by 2.5% in 2023 and 3.2% in 2024. This compares to the region’s remarkable GDP growth of 7.3% in 2022, which was fueled by a strong increase in oil production for most of that year. ....
World Bank: GCC Economic Growth to Slow to 2.5% in 2023 miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
AMMAN The economies of the Gulf Cooperation Council (GCC) are projected to grow at a slower pace in 2023 compared to the previous year, in the face of lower oil and gas earnings and a global economic slowdown, according to the new World Bank Gulf Economic Update (GEU). ....
Economic diversification, development of non-oil sectors, attracting global talent, offering support to the private sector helped the country to continue on a growth. ....