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Fastest growth of the Gulf economies in a decade .. 6.2% average this year

Gulf economies are expected to grow faster this year than previously thought, thanks to abundant oil production, according to a Reuters poll of economists.
The six Gulf Arab states, namely Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Oman, are running budget surpluses.
The survey expected overall growth in the six Gulf Cooperation Council economies to average 6.2 percent this year, up from 5.9 percent expected in the April poll. This will be the fastest rise in nearly a decade.
But growth is expected to slow to nearly half that pace of 3.8 in 2023. This is slightly higher than the previous survey.

As for inflation expectations in the region, they are modest, but mixed. The rate is expected to hover around 4 percent, with the lowest rate in Saudi Arabia at 2.5 percent, and the highest in Kuwait at 4.8 percent.
These numbers are modest compared to advanced economies, approaching more than 10 percent.

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About AISU

Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

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