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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Oxford Economics expects Gulf economies to grow by 4.4% in 2025

    Rocky
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    Oxford Economics expects Gulf economies to grow by 4.4% in 2025 Empty Oxford Economics expects Gulf economies to grow by 4.4% in 2025

    Post by Rocky Thu 19 Sep 2024, 5:13 am

    Oxford Economics expects Gulf economies to grow by 4.4% in 2025

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    Saudi capital Riyadh



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    Economy News - Follow-up
    An economic report revealed that the Gulf Cooperation Council countries are preparing for a major recovery, as economic growth is expected to double to more than 4.4 percent during 2025.
    The report, issued by Oxford Economics and the Institute of Chartered Accountants in the Middle East, on Wednesday, stated that economic growth in the Middle East is expected to reach about 2.1 percent in 2024, and to accelerate strongly to 3.7 percent in 2025.
    The report confirmed the flexibility of non-energy sectors in the GCC countries, as they are expected to grow by 4.2 percent this year and by 4.4 percent in 2025.
    The report indicated that the latest readings of the Purchasing Managers Index reveal strong local activity, and the expected interest rate cuts are expected to boost private consumption and investment, noting that these sectors, including tourism, trade and finance, have become critical growth drivers in the region’s economic diversification efforts.
    “The GCC’s proactive and strategic investment in non-oil sectors, coupled with the gradual recovery in oil production, is paving the way for strong growth in 2025, with the GCC’s resilience clearly on display,” said Scott Livermore, ICAEW Economic Advisor, Chief Economist and Managing Director, Oxford Economics Middle East.
    Hanadi Khalifa, Director of the Middle East Office of the Institute of Chartered Accountants in Dubai, said: “The report underscores the importance of resilience in dealing with global economic difficulties and regional geopolitical challenges, and we are confident that the business community in the Middle East will continue to demonstrate its ability to innovate and thrive amid these challenges.”



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