Optimism about the growth of the economies of the Gulf states .. Saudi Arabia is the highest for the years 2021 and 2022

Optimism about the growth of the economies of the Gulf states .. Saudi Arabia is the highest for the years 2021 and 2022
Optimism about the growth of the economies of the Gulf states .. Saudi Arabia is the highest for the years 2021 and 2022

The economies of the six Gulf Cooperation Council countries are witnessing great optimism about their growth in the next year 2022, as well as their GDP figures this year.
According to the monitoring unit of the reports in the newspaper “Al-Eqtisadiah”, and based on the expectations of the International Monetary Fund issued recently, the Saudi domestic product is a candidate to record growth rates that exceed their rates in the economies of the Gulf countries for the current and next years.
In its October World Economic Outlook report, the International Monetary Fund said that Saudi Arabia’s largest economy in the Middle East will witness growth rates of 2.8 percent for the current year and about 4.8 percent for the next year.
During the current year, Oman is expected to achieve the second highest growth after Saudi Arabia, as the Fund expected it to achieve 2.5 percent growth, then Bahrain 2.4 percent and the UAE 2.2 percent, and growth expectations were lower for Qatar and Kuwait by 1.9 percent and 0.9 percent. Respectively.
While the Fund’s expectation for the next year was more optimistic for the Gulf countries, which coincided with the expectations of the continued rise in exported commodities, where the expected growth of three Gulf countries is equal to and more than 4 percent. Saudi Arabia is at the forefront with an expected growth of 4.8 percent, while Kuwait is 4.3 percent, The Qatari economy is 4 percent.
The Fund also expected the Bahraini economy to grow at 3.1 percent, and about 3 percent for the UAE, the second largest Gulf economy.
In Oman, the Fund expected a growth of 2.9 percent, which is lower than the previous forecast of 7.4 percent, as the Fund revised expectations about growth in Muscat and reduced it by 450 basis points.
On the other hand, the International Monetary Fund lowered its forecast for global growth in 2021 to 5.9 percent, while its forecast for next year was fixed at 4.9 percent.
The Fund lamented the impact of the pandemic, if it persists for a longer period, as it would reduce global GDP by a cumulative $ 5.3 trillion over the next five years.
Although he stressed that it was not necessary for the matter to go in this way, he stressed that the global community should intensify its efforts to ensure that all countries have access to vaccines.
Economic Reporting Unit

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Optimism growth economies Gulf states Saudi Arabia highest years

 
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