The pace of growth pf GCC economies will accelerate in the coming years to reach 4.3% by 2027, supported by expanding investments in tourism, renewable energy, manufacturing, and technology sectors, said a report.
The report by the Statistical Centre for the GCC (GCC-Stat) indicated that the economies recorded a balanced performance during 2024 despite global challenges, as the real GDP growth rate reached about 1.9%, driven by a 4.4% growth in non-oil sectors — reflecting progress in implementing economic transformation strategies.
The GCC-Stat report, "Economic Performance Outlook 2024 - Enabling fiscal sustainability and enhancing non-oil growth", provides a comprehensive analytical overview of the macroeconomic performance of the GCC countries during 2024, including indicators of economic growth, inflation, public finance, public debt, fiscal sustainability as well as developments in financial markets, monetary and banking policy, foreign direct investment, foreign trade, and the Gulf labour market.
