GCC ECONOMY GROWTH 0.8%
WBG - Washington D.C., December 4, 2019 - World Bank report forecasts overall real GDP growth in the GCC to drop to 0.8% this year compared with 2% last year
Economic growth in the Gulf Cooperation Council (GCC) was significantly weakened in 2019 due to muted oil prices and excess oil supply, according to the new World Bank’s Gulf Economic Update released today. As a result, overall real GDP growth in the GCC is estimated to drop to 0.8% this year compared with 2% last year. While most GCC countries retained strong external positions in 2019, the ongoing slowdown in China and…
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