GCC countries to benefit from economic diversification

The UAE economy is expected to grow by 3.9 per cent, Saudi Arabia by 4.3 per cent and Qatar by 6.0 per cent in the medium term, according to Ernst & Young’s (EY) latest Rapid-growth markets (RGMs) forecast. The Mena region’s GDP is expected to grow by three per cent in 2013, down from 3.7 per cent in 2012. This decline can be partly attributed to lower commodity prices and reduced demand for Middle Eastern exports. The current political situation in Egypt is also continuing to impact economic activity across the region. Egypt’s GDP is projected to rise by 1.7 per …

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GCC countries to benefit from economic diversification

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