Archives

Home

Media Center

Financial News

21-04-14

GCC to see 4.4 percent economic growth in 2014

(MENAFN) Economic growth in the Gulf Cooperation Council (GCC) region is expected to boost by 4.4 percent this year affected by its oil industry, according to Khaleej Times. Saudi-based Alkhabeer Capital said in a report: "Large surpluses and stable debt ratios should help the GCC withstand a temporary decline in oil prices, effective diversification remains the only solution in the long term." GCC governments plan mega projects in several sectors to highlight the non-oil private sector importance in supporting the economy. The GCC countries have allocated money in their 2014 budget for mega projects in sectors such as education, healthcare and infrastructure.