News dalla rete ITA

28 Febbraio 2018

Arabia Saudita - Kuwait - Bahrein - Qatar - Emirati Arabi Uniti - Oman


The Gulf economies are on a solid growth track this year with the GDP expected to hit 2.4 per cent from 0.1 per cent last year, expanding at the fastest rate since 2015, according to a recent report.The report produced by Oxford Economics, stated that 2018 will mark a turning point for Middle East economies, allowing recovery for both oil exporters and oil importers.Overall, the Middle East’s GDP is expected to grow 2.9 per cent this year, up from 1.1 per cent in 2017. However, the accountancy and finance body pointed out that the political environment remains challenging and continues to pose a downside risk to headline growth.According to ICAEW report, the region’s overall economic outlook looks positive this year and in 2019, thanks to the rising oil prices (forecast at $67 per barrel), expansionary fiscal policy and relative improvements in the overall security conditions.Economic activity is expected to pick up for oil exporters driven by two main factors, rising oil prices and increased government spending.Overall, GCC’s GDP is expected to accelerate this year. And in 2019, as Opec phases out its output cut, GDP growth is expected to surge further for oil exporters.Mohamed Bardastani, the ICAEW economic advisor and senior economist for Middle East at Oxford Economics, said: "Middle East economies are recovering from the difficult years of a low oil environment, various austerity measures and geopolitical risks.""But more reforms are required to address the fundamental problems that have plagued so many countries of the region for so long, including reducing high unemployment rates, promoting fair competition and better regulation, investing in talent and strengthening women’s legal rights," noted Bardastani. (ICE DUBAI)