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Trillion dollar Gulf Industrial Investment
5/28/15
News -guena: Federation of Chambers of the Gulf Cooperation Council (GCC) said in its annual report issued yesterday that the president challenge to the growth of the Gulf economy is the lack of global economic growth recovery as required, as well as oil prices remain for a long time between 50 to 60 dollars per barrel, no It could push the region's governments to reduce spending power programs and undermines one of the fundamental factors for economic growth.
The report promised to growing inflationary pressures among the challenges albeit less likely; because of strong growth in the consumer sector as well as for speedy implementation of projects that could lead to increased inflationary pressures and pose challenges for monetary policy and exchange rates.
He pointed to the achievements of the Gulf economy in 2014 and expectations in 2015, pointing out that the GCC economy has achieved in 2014 a growth of 4.4 percent compared with the year 2013, noting that according to the International Monetary Fund to 2014 estimates, the Saudi economy has achieved a growth of 4.6 percent , Bahrain and the economy 3.9 percent, and the Kuwaiti economy 1.4 percent, Oman 3.4 percent and the economy, the country and the economy of 6.5 percent and 4.3 percent of the UAE's economy.
The report pointed out that government spending levels and improve the conditions of the private sector most months last year contributed to the GDP growth of non-oil GCC by 6.1 percent in 2014 compared with 5.7 percent in 2013, while oil output has achieved a growth of less than 1 percent in 2014.
On the outlook 2015 report Federation of Chambers of the Gulf Cooperation Council (GCC) said that according to the IMF forecast, the GCC countries is expected to register a growth rate of 4.5 percent, and is expected that oil production increases slightly beyond the current levels with the response to these countries for oil disruptions in countries non-members in the GCC countries, while growth will remain in the non-oil sectors in the range of 6 percent in 2015.
The report said that domestic consumption and investment casting in support of increased government capital spending and higher public sector salaries, along with the great diversification in credit to the private sector in many countries, while the expectation that infrastructure giant, especially in Saudi Arabia projects are continuing and the states of Qatar and the UAE United support strong expansion in tourism, transport, construction, wholesale and retail sectors.
The report pointed out that the GCC countries aspiring through the rest of this decade to raise the contribution of the industrial sector in the GDP to 25 percent by 2020 compared with around 10 percent at present, and expected to reach the Gulf of industrial investment nearly a trillion dollars by in 2020, after the end of the GCC industrial cities where work is under way at the moment, compared to $ 323 billion currently processing.
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5/28/15
News -guena: Federation of Chambers of the Gulf Cooperation Council (GCC) said in its annual report issued yesterday that the president challenge to the growth of the Gulf economy is the lack of global economic growth recovery as required, as well as oil prices remain for a long time between 50 to 60 dollars per barrel, no It could push the region's governments to reduce spending power programs and undermines one of the fundamental factors for economic growth.
The report promised to growing inflationary pressures among the challenges albeit less likely; because of strong growth in the consumer sector as well as for speedy implementation of projects that could lead to increased inflationary pressures and pose challenges for monetary policy and exchange rates.
He pointed to the achievements of the Gulf economy in 2014 and expectations in 2015, pointing out that the GCC economy has achieved in 2014 a growth of 4.4 percent compared with the year 2013, noting that according to the International Monetary Fund to 2014 estimates, the Saudi economy has achieved a growth of 4.6 percent , Bahrain and the economy 3.9 percent, and the Kuwaiti economy 1.4 percent, Oman 3.4 percent and the economy, the country and the economy of 6.5 percent and 4.3 percent of the UAE's economy.
The report pointed out that government spending levels and improve the conditions of the private sector most months last year contributed to the GDP growth of non-oil GCC by 6.1 percent in 2014 compared with 5.7 percent in 2013, while oil output has achieved a growth of less than 1 percent in 2014.
On the outlook 2015 report Federation of Chambers of the Gulf Cooperation Council (GCC) said that according to the IMF forecast, the GCC countries is expected to register a growth rate of 4.5 percent, and is expected that oil production increases slightly beyond the current levels with the response to these countries for oil disruptions in countries non-members in the GCC countries, while growth will remain in the non-oil sectors in the range of 6 percent in 2015.
The report said that domestic consumption and investment casting in support of increased government capital spending and higher public sector salaries, along with the great diversification in credit to the private sector in many countries, while the expectation that infrastructure giant, especially in Saudi Arabia projects are continuing and the states of Qatar and the UAE United support strong expansion in tourism, transport, construction, wholesale and retail sectors.
The report pointed out that the GCC countries aspiring through the rest of this decade to raise the contribution of the industrial sector in the GDP to 25 percent by 2020 compared with around 10 percent at present, and expected to reach the Gulf of industrial investment nearly a trillion dollars by in 2020, after the end of the GCC industrial cities where work is under way at the moment, compared to $ 323 billion currently processing.
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