World Bank Projects GCC Growth Rate to Score 3.6% in 2024 and 3.8% in 2025

Dubai, 18 April 2024- As MENA countries mostly adopt a reactive market approach, leading sectors in the GCC are directly affected by the Fed’s monetary policies.

Ritu Singh, Regional Director of StoneX Group Inc.

The indecisive statistics for the interest rate outcome in the US taps into the grounds of the UAE’s economic model, which aims at amplifying its revenues from trade, transport, tourism and technology. According to the Central Bank of the UAE (CBUAE), their latest rate decision remained unchanged, at 5.4%, in tandem with the latest Fed rate decision. In other words, despite of the region’s resiliency, the state of borrowing costs is directly tied with the awaited inflation, employment, and economic growth figures of the U.S.