A recent research piece by Credit Suisse predicts favorable economic estimates for both Qatar and Saudi. It expects Qatar’s real GDP to grow by 7.1% in 2009 and 12.5% in 2010. It also estimates that Saudi’s 2009 real GDP will remain flat, but the grow at a rate of 3% in 2010; indicating that those two economies have left the recession behind. On the other hand, Kuwait and the UAE will not have the same fortune as their peers. Their 2009 real GDP will show a contraction of 1.2% and 2.4% respectively. All 4 GCC economies will share the fact that they will have negative GDPs on nominal terms.
Qatar is expected to not only be the fastest growing economy in the GCC, but also in the world. Credit Suisse estimates that in 2010 the global economy will pick up and register a real GDP growth of 3.1%. This is miniscule compared to Qatar’s expected real GDP growth of 12.5%.
I believe the bold actions Qatar took facing the financial crisis, commitment to investing in infrastructure, and the expected increase in LNG production will lead to this imminent surge in GDP growth.
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Loading ...Tags: Credit Suisse, Economy, GDP, Kuwait, Qatar, Real GDP, Recovery, Saudi, UAE
5alf alla 3ala likwait… ishakwa lulla…
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Saud Reply:
October 7th, 2009 at 1:01 am
Kuwait should really focus on spending the money in the infrastructure and education to help build a productive society, hence the growth of the economy will follow.
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[...] 1) The IMF expects Kuwait to report a negative real GDP of 1.5% in 2009 and show a growth of 3.3% in 2010, which is the lowest amongst its peers. (Click for details) [...]