FINANCIAL NEWS

Arab economies to record 3 percent growth in 2015

14 Apr 2015

(MENAFN) Arab economies are set to post 3 percent growth in 2015, according to a forecast issued by Arab Monetary Fund (AMF) in their “Economic Outlook” financial report, Times of Oman reported.

The report said that the economic performance of certain Arab countries is set to be changed by several issues, occurring in 2015, such as the global tendency in decreasing oil prices.

Primarily, the declining oil prices are forecast to hinder the financial growth of the Arab oil-exporting countries, in which oil adds up to about 78 percent of the overall gross domestic product.

However, due to a fiscal policy especially specified to lessen the effects of declining oil prices, the GCC countries are less likely to be affected by the change in oil prices compared to other Arab countries.

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