The Middle Eastern economy is expected to slow down 0.6 percent in 2019, an improvement over the estimated 1.5 percent slowdown in 2018, and the smallest contraction in nearly a decade, according to a new report from the Institute of Chartered Accountants in England and Wales (ICAEW) and Oxford Economics.
Middle Eastern economy to slow down 0.6 percent in 2019: Report
According to the report, oil output cuts expected to be announced by OPEC+ will limit the growth of the oil sector, which has traditionally been the primary driver of government revenue and economic growth. (File photo: Reuters)
Matthew Amlôt, Al Arabiya English
- 9006 Views Coronavirus: UAE extends curfew indefinitely due to disinfection program
- 3660 Views Coronavirus: Saudi Arabia records 140 new cases totaling 2,179
- 3141 Views Coronavirus: Sweden takes different approach to tackling the outbreak as numbers rise
- 2368 Views Coronavirus: Dubai announces two-week 24-hour curfew as disinfection continues
- 2046 Views Putin’s comments on Saudi withdrawal from OPEC+ deal devoid of truth: Saudi FM
- 648 Views Coronavirus: UAE officially asks to postpone Expo 2020 until October 2021
- 124584 Views 21 mln drop in China's mobile users may suggest higher coronavirus death toll: Report
- 66541 Views South Korea conquered coronavirus without a lockdown: a model to follow?
- 44646 Views Coronavirus: Saudi's King Salman orders treatment for all, including visa violators
- 34091 Views UAE records total of 570 coronavirus cases and three deaths
- 30695 Views Coronavirus: Saudi Arabia enforces 24-hour daily curfew in Mecca, Medina
- 21023 Views Top Russian doctor who shook Putin’s hand tests positive for coronavirus