- Non-oil growth outturn so far for 2024 is encouraging with 4% in UAE, 3.7% in KSA, 3.8% in Oman and Kuwait returning to growth at 4.7%
- Outlook for further non-oil growth remains positive for 2025 as US interest rates fall enabling GCC states to also lower rates
- OPEC+ agrees to extend cooperation and push back planned tapering amid softer demand forecasts as oil falls towards the $70 mark increasing fiscal uncertainty
- Funding support from the UAE and third parties including IMF, World Bank and the European Union, has enabled a strong recovery in Egypt.
- GCC well positioned to capitalise on the AI revolution amid local innovation and international investment
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UAE News 24/7 