World Bank: Persian Gulf economies growing, but face considerable risk

17 Jun 2017   Qatar

Geopolitical risks, as well as U.S. economic and energy sector influences, could undercut growth for Persian Gulf countries, the World Bank said. A World Bank report on the economies for members of the Gulf Cooperation Council finds aggregate growth expands from 1.3 percent this year to 2.6 percent in 2019. A regional economic report, the first for the bank, said oil prices should hold steady and support growth in the region, but nowhere near the levels from 2014, when the global benchmark for the price of oil, Brent, was more than twice the current level. Nadir Mohammed, the GCC director at the World Bank, said some energy market recovery is supporting regional growth with the help of improvements in the non-oil […]

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