Global Macro Service > Research Briefings > Africa and Middle East

MENA Weekly: GCC faces slower 2020 than seen by the IMF and WB

The IMF and World Bank have released their revised forecasts for the global economy, including the GCC. The IMF now expects the GCC to grow by 0.7% in 2019 and 2.5% in 2020 (on a PPP basis), whereas the World Bank forecasts growth of 1.1% in 2019 and 2.2% in 2020. Oxford Economics’ forecasts show a weaker recovery in 2020, with GCC growth forecast at 2.0%, after 1.0% this year.

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