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  • 15-10-18

    Middle East economic growth forecast to hit 3 percent by 2019

    (MENAFN) The Middle East is forecast to see a 2.3 percent economic growth this year, and 3 percent next year.

    GCC states saw an upgrade in their projected economic growth to hit 1.9 percent this year, as found in an Arab Monetary Fund (AMF) report.

    The GCC countries are also expected to see a boost in their economic growth to reach 2.5 percent next year.

    In a statement, the AMF said: "this group of countries will benefit from the increase in oil production in the second half of the year."

    The statement added "also, the rising trend of international oil prices will support public finance and strengthen the fiscal space, which will support the implementation of economic diversification plans."

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