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Real GDP growth in the GCC region will slow to 3.5% in 2023

Real GDP growth in the GCC region will moderate from an estimated 7.6% in 2022 to 3.5% in 2023, according to a new report by S&P Global Market Intelligence. The decline is expected to be more due to lower year-on-year (y-o-y) oil output and spillovers of weaker global demand on activity momentum in the non-hydrocarbon economy than to tighter financial conditions brought about by the regional central banks mirroring the US Federal Reserve’s moves on interest rates.… 

Link: https://www.zawya.com/en/economy/gcc/real-gdp-growth-in-the-gcc-region-will-slow-to-35-in-2023-vs3126b1

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