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‘IMF: Gulf countries continue to grow on reforms and steel production’

The IMF report reveals that the Gulf countries continue to grow with strong reforms and diversifying sectors.

‘IMF: Gulf countries continue to grow on reforms and steel production’

According to a report by the International Monetary Fund (IMF), the Gulf Cooperation Council (GCC) economies continue to show resilience despite external shocks such as regional conflicts and oil production disruptions. In 2024, the regional economy is expected to grow by 3.5 per cent, while Saudi Arabia and the United Arab Emirates (UAE) are expected to grow by 4.4 and 4.5 per cent, respectively. Strong performance, particularly in non-oil sectors such as tourism, steel production, financial services and technology, is contributing significantly to economic diversification efforts. The Gaza conflict is reported to have a limited impact on the region.

Raporda, iş ortamının iyileştirilmesi, insan sermayesinin geliştirilmesi ve dijital dönüşüm gibi reformların ekonomiyi desteklediği ifade ediliyor. Ayrıca enerji üretiminin genişlemesi ve lojistik altyapı projelerinin hayata geçirilmesi gibi faktörlerin büyümeyi artırdığı vurgulanıyor. Çelik üretimi gibi sanayi faaliyetleri de petrol dışı büyümeye önemli katkılar sağlıyor. OPEC+ ittifakının üretim kesintilerini kaldırma kararı ve doğal gaz üretimindeki artış da büyümeye destek veren diğer unsurlar arasında yer alıyor.

Bununla birlikte, küresel ekonomik yavaşlama, yüksek faiz oranlarının devam etmesi ve uzun süren çatışmalar gibi olumsuz riskler büyüme beklentilerini tehdit ediyor. Bu durum, hidrokarbon fiyatlarında dalgalanmalara, ihracatın azalmasına ve finansman maliyetlerinin artmasına neden olabilir. IMF, bu risklere karşı Körfez ülkelerinin reform çabalarını hızlandırması ve ticaret-finans entegrasyonunu önceliklendirmesi gerektiğini vurguluyor.

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