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    Egypt, Poland Explore Agri-Tech and Investment Opportunities

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    Egypt Enhances Water Management Using Satellite Technology

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    Egypt Reaches 60% Self-Sufficiency in Red Meat, Near Full Self-Sufficiency in Poultry

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    GCC Population Reaches 61.2 Million, Growing by 2.1 Million in 2024

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    Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

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    Green Certifications: A Strategic Imperative for GCC Food Producers

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    UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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    Ethical Food Market Outlook 2025–2034: Size, Growth, Trends & Forecast

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    Oman Grants Licences to 24 Integrated Aquaculture Farms in 2024

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      Iraq’s Development Road: A New Contender in Global Trade Routes?

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      UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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      Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

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      Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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      Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

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      Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

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      Consumer Electronics Boom Continues Across GCC, Middle East

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      Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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        Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

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        Iraq Launches $400–600M Tender for Baghdad Airport Development

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        Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

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        Construction Underway on Iraq’s Tallest Twin Towers in Baghdad

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        Qatar’s Construction Sector Poised for Transformation, Says New Report

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        Jeddah Tower Set to Claim Title of World’s Tallest Building

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          Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

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          Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

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          Oman Seeks Bids for Two Major Substation Projects

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          Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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          Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

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          Iraq and Power China International Sign Deal to Strengthen National Power Grid

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          Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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            Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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            Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

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            Qatar’s Health Spending Set to Climb 14% by 2029

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            Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

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            Qatar and the UK Explore Deeper Cooperation in Healthcare

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            The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

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            Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

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            Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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              Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

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              Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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              Global Tourism Set to Reach 30 Billion Trips and $16 Trillion GDP by 2034

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              Oman Awards Over $600 Million in Contracts for Tourism Expansion

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              Qatar Expands Role as a Leading Global Tourism Destination

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              Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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              Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

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                Technological and Sustainable Innovation Drives Growth in Digital Printing

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                Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                    Iraq to Establish Four New Desalination Plants in Basra

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                    Iraq to Open Three Major Airports in 2025

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                      Egypt, Poland Explore Agri-Tech and Investment Opportunities

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                      GCC Population Reaches 61.2 Million, Growing by 2.1 Million in 2024

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                      Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

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                      Green Certifications: A Strategic Imperative for GCC Food Producers

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                        Iraq’s Development Road: A New Contender in Global Trade Routes?

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                        Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

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                        UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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                        Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

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                        Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                        Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

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                        Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

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                        Consumer Electronics Boom Continues Across GCC, Middle East

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                        Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                          Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

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                          Iraq Launches $400–600M Tender for Baghdad Airport Development

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                          Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

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                          Construction Underway on Iraq’s Tallest Twin Towers in Baghdad

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                          Qatar’s Construction Sector Poised for Transformation, Says New Report

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                          Jeddah Tower Set to Claim Title of World’s Tallest Building

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                          UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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                          Iraq to Establish Four New Desalination Plants in Basra

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                          Over 111 km of Internal Road Projects Underway in Oman’s Al Dhahirah Municipality

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                            Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

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                            Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

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                            Oman Seeks Bids for Two Major Substation Projects

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                            Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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                            Qatar 2025: From Energy Powerhouse to Innovation Leader

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                            Iraq Aims for 12 GW of Renewable Energy by 2030

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                            Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

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                            Iraq and Power China International Sign Deal to Strengthen National Power Grid

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                            Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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                              Qatar Tops MENA in Healthcare Index, Ranks 18th Globally

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                              Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                              Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

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                              Qatar’s Health Spending Set to Climb 14% by 2029

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                              Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

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                              Qatar and the UK Explore Deeper Cooperation in Healthcare

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                              The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

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                              Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

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                              Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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                                Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

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                                Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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                                Global Tourism Set to Reach 30 Billion Trips and $16 Trillion GDP by 2034

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                                Oman Awards Over $600 Million in Contracts for Tourism Expansion

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                                Qatar Expands Role as a Leading Global Tourism Destination

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                                Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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                                Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

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                                Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

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                                Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

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                                  Middle East Printing Inks Market Outlook 2025–2033

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                                  Technological and Sustainable Innovation Drives Growth in Digital Printing

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                                  Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                                  Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

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                                  Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

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                                  Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

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                                  Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

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                                    Dubai Launches Region’s First PropTech Hub to Back 200 Startups by 2030

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                                    Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                                    Consumer Electronics Boom Continues Across GCC, Middle East

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                                    Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                                    The Top 10 Emerging Technologies for 2025

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                                    Saudi Arabia’s ICT Spending Tops $10 Billion: Key Trends and What’s Ahead

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                                    GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

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                                      Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

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                                      Iraq’s Development Road: A New Contender in Global Trade Routes?

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                                      Iraq Launches $400–600M Tender for Baghdad Airport Development

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                                      Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

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                                      Iraq to Establish Four New Desalination Plants in Basra

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                                      Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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                                      Iraq to Open Three Major Airports in 2025

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                                      Home Business & Economy Economy

                                      GCC countries to record strong GDP performance in 2012

                                      Emirates 24|7

                                      August 27, 2012
                                      in Economy
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                                      The members of the six-nation Gulf Cooperation Council (GCC) are expected to record strong GDP performance through 2012 in contrast with other Arab nations which have been hit by political unrest, the UN Economic and Social Commission for Western Asia (Escwa) said in a report.
                                      It showed real GDP growth in the GCC increased to 5.7 per cent in 2011 from 4.4 per cent in 2010 and is projected at 4.6 per cent in 2012.
                                      In the other Arab countries, mainly oil importers, real GDP slowed down from 5.7 per cent in 2010 to 2.3 per cent in 2011 and could rebound to 2.6 per cent this year. Excluding Iraq, which is recording strong performance, the combined growth in the non-GCC countries stood at 0.7 per cent in 2011 and is projected at around 0.8 per cent in 2012, said Escwa which groups most Arab nations.
                                      "After the pessimism that prevailed in 2008 and 2009, the economic outlook of the Escwa region improved in 2010. However, uncertainty returned in 2011 as social movements spread across the Arab world," it said.
                                      "Political unrest has had direct adverse effects on economic activity in Bahrain, Egypt, Syria and Yemen, and negative spillover effects on neighboring countries, particularly Jordan and Lebanon. Political unrest contributed to higher oil prices which boosted growth rates in oil-exporting countries."
                                      The report showed growth in the Escwa region is estimated to have increased from 4.7 per cent in 2010 to 4.8 per cent in 2011.
                                      Growth was especially high in several oil-exporting countries, reflecting high crude prices that averaged $107 a barrel.
                                      But it added that political unrest reduced growth rates in the more diversified economies (MDEs), particularly Syria and Yemen where growth rates are estimated to have contracted by two per cent in 2011.
                                      "In 2011, GCC countries benefited from high oil prices and grew by an estimated 5.7 per cent, up from 4.4 per cent in 2010."
                                      The report noted that the UAE, Kuwait and Saudi Arabia increased oil production to compensate for the disruption of oil production in Libya during the war.
                                      "The economic performance of those countries was not significantly impacted by social movements because high oil prices enabled them to maintain fiscal expansion and support household income and private consumption," it said.
                                      "This was not the case in Bahrain, where the social unrest of 2011 tarnished the country's reputation as a stable financial hub and key financial and tourism sectors suffered causing economic growth to drop from about 4.5 per cent in 2010 to around 2.5 per cent in 2011."
                                      The report said growth in GCC countries is mainly driven by the oil sector, but added that the non-hydrocarbon sector is increasingly contributing to growth.
                                      In Saudi Arabia, the non-oil sector is estimated to have grown by five per cent in 2011, which is one of the highest growth rates in decades.
                                      This growth rate is expected to remain at five per cent in 2012 supported by high public spending and investment and increased private consumption, it said.
                                      "As for 2012, the outlook for the Escwa region is extremely uncertain, as the situation in Syria is expected to remain highly volatile and political uncertainty is still characterizing the transitional phase in Egypt and Yemen," Escwa said.
                                      "The region is vulnerable to a global downturn which could affect oil prices and reduce demand for non-oil exports. Oil-exporting countries will drive growth as crude prices are expected to remain high at around $100 a barrel."
                                      A breakdown for Escwa's 14 Arab members showed real GDP growth is forecast at 4.5 per cent in Saudi Arabia, seven per cent in Qatar, four per cent in Oman, and 3.5 per cent in both Kuwait and Bahrain.
                                      Outside the GCC, it was estimated at 10.5 per cent in Iraq, five per cent in Palestine, 3.2 per cent in Jordan, 2.5 per cent in Lebanon, 1.6 per cent in Egypt and one per cent in Yemen. The report projected zero growth in Sudan and a 5.5 per cent contraction in conflict-battered Syria.
                                      Emirates 24|7
                                      27 August

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