GCC Economic Growth Projected to Hit 4.4% by 2025: Oxford Economics Report

UAE, 18 September, 2024 :  The latest ICAEW Economic Insight report, prepared by Oxford Economics, forecasts a significant economic rebound in the GCC, with growth expected to rise to 4.4% in 2025. 

The report predicts Middle East growth at 2.1% in 2024, accelerating to 3.7% in 2025, driven by the resilience of non-energy sectors, which are set to expand by 4.2% this year and 4.4% in 2025.

Key growth drivers include tourism, trade, and finance, supported by strong domestic activity and anticipated interest rate cuts. Oxford Economics highlighted the GCC's strategic investments in non-oil sectors as critical to this robust growth outlook.

Source : www.wam.ae