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IMF predicts modest growth for region

The International Monetary Fund has predicted faster growth in most Gulf economies this year and next, in its latest World Economic Outlook (WEO), published on 17 April. However, the region is still set to trail behind global averages as much of the world economy rebounds from years of recession or constrained growth. Four of the five Gulf economies that contracted last year – Iraq, Kuwait, Oman and Saudi Arabia – are all expected to post positive GDP growth this year, of 3.1%, 1.3%, 2.1% and 1.7% respectively.

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African Energy Gulf States Newsletter