GCC: IMF cuts all regional growth forecasts

The International Monetary Fund’s latest World Economic Outlook (WEO) report, released on 9 April, cut the IMF’s growth rate predictions for every country in the Gulf. This is due to a combination of weaker oil sector growth, geopolitical instability and the impact of slower growth in key global economies including China. Worst affected among the Gulf Co-operation Council countries was Oman.