Despite a sizeable fiscal deficit this year and the next due to decline in oil prices, Oman is likely to avoid deep cuts in spending as the real GDP grows by 4 per cent in 2015 before moderating to 3.7 per cent in 2016, a report said.
Egypt's gross domestic product grew 3.5 per cent in the fourth quarter of the 2013/14 fiscal year, signalling that the economy was finally recovering from recent turmoil, the official Mena news agency quoted Finance Minister Hani Dimian as s
Abu Dhabi’s project spending could balloon to over $100 billion in the next seven years, said the organisers of a major investment summit that opened in the UAE capital yesterday (December 9).
The eighth Abu Dhabi Conference
The non-oil industry in GCC grew strongly in 2012 as investment in major manufacturing projects, particularly petrochemicals, boosted output, a report said.
Real GDP growth in the GCC is likely to have slowed from 7.8 per cent in
After posting double-digit growth in 2011 for the sixth consecutive year on the back of near-maximal liquefied natural gas (LNG) and elevated oil prices, Qatar’s output growth is set to moderate over the next few years, a report said.
The Saudi per capita income in the gross domestic product (GDP) is likely to soar to SR116,900 ($31,172), said a report citing experts. However, they warned that inflation will remain a major threat to Saudi income this year.
The GDP growth of regional oil exporters is expected to pick up in 2012 to almost 5 per cent after recording 4 per cent in 2011, an IMF report said.
Continued government spending due to intensified social demands and higher oil prices
Saudi Arabia posted strong economic growth in the first half at 26.1 per cent year-on-year in nominal terms thanks to a surge in oil prices, according to a new report by Saudi bank Jadwa Investment.
Oil was by far the fastest growing secto
Jordan's economy may grow at a rate of 3 per cent in 2011, its finance minister said, below a 3.5 per cent target set by the International Monetary Fund for the year.
"Real GDP growth for 2011 stands at 3 per cent and the reason is the imp
India's economy grew at its weakest pace in six quarters but outperformed even gloomier predictions, reinforcing expectations the central bank will keep raising interest rates to put a lid on inflation.
Gross domestic product (GDP) growth