2024 GCC non-oil growth driven by non-hydrocarbon sectors, supported by easing US interest rates.

In 2024, the Gulf Cooperation Council (GCC) countries are experiencing strong non-oil growth, even amid global uncertainties. PwC's report highlights that non-hydrocarbon sectors will drive this growth, supported by easing US interest rates. The IMF forecasts GDP growth of 2.8% in 2024 and 4.2% in 2025 for the region. OPEC+ agreements and diversification efforts are key factors, reinforcing the GCC's economic resilience and innovation.

September 17, 2024
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