(MENAFN) The financial situation in the region is projected to enhance following sustained reforms in spending and subsidy, while the GCC economies are projected to show a GDP surpassing USD1.5tr this year.
Last year, all the six GCC nations put together were running on financial deficit and recent account deficit, while this year, GCC economies GDP will surpass USD1.5tr.
Additionally, the fiscal situation is projected to enhance across the GCC trailing sustained reforms in the form of spending cuts and subsidy reforms, helped by reviving oil prices.
Moreover, Qatar can report net loss than 3.5 percent growth even in the recent context, while its Financial Center has enhanced the mutual, economic, and commercial co-op between Asia and Qatar.
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