IMF Expects 6.5 Percent GDP Growth for GCC Countries

The International Monetary Fund calls on the Gulf countries to maintain financial policies that ensure sustainability and increase savings (AFP)

GDP growth in the Gulf Cooperation Council (GCC) is expected to double this year, reaching 6.5 percent, a report issued by the International Monetary Fund (IMF) revealed.

Surging commodity prices have limited the spillovers from the war in Ukraine and the impact from tighter global financial conditions, and have allowed for a more positive outlook for GCC economies, according to IMF.