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FINANCIAL NEWS
Saudi Arabia’s economic growth to enhance by 1.8pct
06 Feb 2017
(MENAFN) The GCC economies are predicted to recover this year, except Oman and Bahrain, from a slowdown in 2016 amid public sector spending cuts and tightening liquidity.
Additionally, Saudi Arabia’s economic growth is projected to accelerate to 1.8 percent this year from 1.3 percent in 2016.
Moreover, the UAE growth will pick up this year to hit 2.5 percent, up from 2.3 percent in 2016 due to its diversified from oil than its neighboring GCC nations.
On the other hand, Kuwait’s economy had more than doubled from 2015 to 2016 going from 1.1 percent to 2.4 percent, while this year it will grow for more than 2.6 percent.
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