Middle East Economic Survey


No 29



Higher Oil Prices And Fiscal Spending Help GCC Recover, Says Emirates NBD

Economic recovery in the Gulf Cooperation Council (GCC) is gathering pace as the recovery in oil prices and massive fiscal spending programs stabilize balance sheets and confidence levels, says the 12 July Economics Research report from Emirates NBD. Real GDP in GCC markets grew by 8% in 2008 and then slowed abruptly to 1.8% in 2009. Renewed activity should...