World Bank forecasts 3.4% growth for Gulf economies in 2025

The World Bank projects that the economical maturation complaint of Gulf countries volition scope 3.4 percent successful 2025, rising to 4.1 percent successful 2026, compared to an expected 3.3 percent maturation complaint for the Middle East and North Africa (MENA) portion arsenic a whole.

Ousmane Dione, World Bank Vice President for the Middle East and North Africa, stated that portion the region’s economical outlook remains positive, maturation rates volition alteration betwixt oil-producing and oil-importing countries.

Speaking to the Emirates News Agency (WAM) connected the sidelines of the World Governments Summit 2025 (WGS) successful Dubai, Dione highlighted that the GCC countries support a beardown economical presumption acknowledgment to their diversification efforts. In contrast, different countries successful the portion proceed to look challenges related to conflicts and instability.

He noted that Gulf economies payment from important investments successful non-oil sectors, providing them with a competitory vantage implicit countries struggling with geopolitical instability.

In a abstracted context, Dione discussed the Memorandum of Understanding signed betwixt the World Bank and the Mohamed bin Zayed Water Initiative. He stated that this concern aims to code h2o information challenges successful the portion and beyond.

He besides highlighted that the MENA portion accounts for astir 55 percent of the world’s desalinated h2o production. However, helium emphasised the value of exploring alternate solutions specified arsenic h2o reuse, improved assets management, and integrating artificial quality and modern technologies to way leaks and heighten astute irrigation systems for greater efficiency.

Follow Emirates 24|7 connected Google News.