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18-05-14

GCC real GDP to hit 4.7 percent in 2014

(MENAFN) Real GDP growth in the GCC region is expected to reach 4.7 percent in 2014, according to Arab News. Real GDP growth in the GCC reached an estimated 4.1 percent in 2013, with the highest growth rate in Qatar at 6.5 percent, compared with 2.7 percent for the rest of the MENA region. Qatar ranked fist as the main engine of economic growth in the GCC with double-digit growth in both the non-hydrocarbon sector and population. In Saudi Arabia, the non-hydrocarbon sector expanded strongly by 4.9 percent on both private and public investments and higher consumption.