Outlook for Growth in the GCC is Revised Downwards

  • Published:Thursday, December 08, 2016


The ongoing weakness in oil prices has continued to undermine investment growth in the Gulf Cooperation Council.

 

Timetric’s Construction Intelligence Center (CIC) has further revised downwards its outlook for growth in construction activity in the countries of the Gulf Cooperation Council (GCC): Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE).

 

The ongoing weakness in oil prices has continued to undermine investment growth, and with government revenues in decline, public sector spending plans have been scaled down, thus impacting directly on large-scale infrastructure developments
 

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