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FINANCIAL NEWS
GCC’s 2012 economic growth to exceed 4%
19 Feb 2012
(MENAFN) Alkhabeer Capital, a leading Saudi investment firm, said that the combined gross domestic product (GDP) of the GCC region in 2012 is forecasted to surpass 4 percent, reported Arab News.
The company added that regional inflation would be also expected to alleviate as commodities and global growth flattens during the year.
Furthermore, Qatar’s GDP would reach 7 percent, followed by Saudi with 4.6 percent, Kuwait 3 percent, Oman 2.7 percent, the UAE 2.4 percent and Bahrain with 1.2 percent.
It is worth noting that Saudi’s growth is resulting from an expected increase in budgetary development spending, with a rise of 16 percent.
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