- Analytics
- News and Tools
- Market News
- Gulf economies to grow faster in 2022, oil price fall biggest threat – Reuters poll
Gulf economies to grow faster in 2022, oil price fall biggest threat – Reuters poll
“The economies in the six-member Gulf Cooperation Council will grow at their fastest pace in several years,” per the latest Reuters poll.
The survey results also mentioned, “Nine of 10 economists who answered an additional question said a decline in oil prices and new coronavirus variants were the biggest threats to GCC economic growth this year.”
Key quotes
Saudi Arabia was predicted to top the list with growth of 5.7%, followed by Kuwait and UAE with 5.3% and 4.8% respectively.
Economic growth in Qatar, Oman and Bahrain was expected to average between 3%-4% for 2022. If realised, that would be the best these countries have witnessed in several years.
Eight of ten respondents said risks to their growth forecasts were skewed more to the downside.
Oil prices remain firmer…
The hawkish outlook for energy prices joins the recent geopolitical concerns surrounding Russia and Ukraine to also underpin WTI crude oil prices to gain over 1.0% by the press time of the pre-European session on Monday.
Read: WTI Price Analysis: Extends bounce off 200-HMA towards $86.00 hurdle
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
