Washington, November 29 (QNA) – The International Monetary Fund (IMF) projected Tuesday that the Gross Domestic Product (GDP) of the Gulf Cooperation Council (GCC) states is poised to grow by 6.5 percent in 2022 compared to 3.1 percent in 2021.
In a statement, IMF said that according to the findings of a research paper prepared under the title: “Gulf Cooperation Council: Economic Prospects and Policy Challenges for the GCC Countries” the additional revenues from the higher energy prices can help the GCC region achieve long-term prosperity through maintaining the momentum of the reforms being conducted by the council, indicating that GCC region witnessed through its history distinguished periods of high oil revenues.
It added that its current analysis indicates that GCC states are poised to save much more resources than the resources made during the previous periods, thanks to the financial and structural reforms that have been conducted. (QNA)