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05 Apr 2018, Gergana Bencheva, EMIS Editor

UAE, Oman to lead economic growth in Gulf region in 2018

The UAE and Oman would lead the Gulf region’s economic growth in 2018 as their economies would expand by 3.8% while third in place is due to be Kuwait with an increase of 3.1%, Arabian Business reported referring to a forecast made by Coface.

According to the study, the region’s growth this year would be supported by higher oil prices coupled with improved global economic conditions and the real gross domestic product (GDP) growth rates are expected to be around 2.3%, versus 0.6% in 2017.

Overall growth is expected to be driven by the UAE’s high performing non-oil sectors. The outlook for Bahrain is for an economic growth of 2%, Arabian Business added.

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