Forecast is strongest in UAE, Saudi Arabia and Kuwait, while Oman and Bahrain are weaker due to their fiscal position
GCC economic growth
Bahrain economy
Most GCC economies set to transition to ‘new normal’ in 2018
Gulf region is forecast to see average growth of 2.8% next year from just 0.3% in 2017
GCC economic growth
GCC still committed to VAT, despite varied timetables
IMF chief sees implementation of VAT generating up to 2% of Gulf region’s GDP
Diversification
IMF tells Gulf states to speed up shift away from oil
Financial institution projected GCC economic growth at just 0.5 percent this year