The World Bank forecasts that the economic growth rate of the Gulf countries will reach 3.4% in 2025 and increase to 4.1% in 2026. The expected growth rate for the Middle East and North Africa (MENA) region as a whole is also estimated at 3.3%.
Publish dateWednesday 12 February 2025 - 22:46
According to Amac News: Ousmane Dione, World Bank Vice President for the Middle East and North Africa, said at the Global Governments Summit 2025, which began yesterday in Dubai, that while the economic outlook for the region remains positive, growth rates will differ between oil-producing and oil-importing countries.
He added that the GCC countries are in a stronger economic position thanks to their economic diversification efforts. In contrast, other countries in the region face challenges related to conflict and instability.
Dione noted that the economies of the Gulf countries benefit from significant investments in non-oil sectors, which gives them a competitive advantage over countries struggling with geopolitical instability.
Separately, Dione said of the memorandum of understanding signed between the World Bank and the Mohammed bin Zayed Water Initiative, that the collaboration aims to address water security challenges in the region and beyond.
He also stressed that the MENA region accounts for about 55 percent of the world’s desalination production. However, he stressed the importance of exploring alternative solutions such as water recycling, improved resource management, and the integration of artificial intelligence and modern technologies to detect leaks and improve smart irrigation systems to increase efficiency.
He added that the GCC countries are in a stronger economic position thanks to their economic diversification efforts. In contrast, other countries in the region face challenges related to conflict and instability.
Dione noted that the economies of the Gulf countries benefit from significant investments in non-oil sectors, which gives them a competitive advantage over countries struggling with geopolitical instability.
Separately, Dione said of the memorandum of understanding signed between the World Bank and the Mohammed bin Zayed Water Initiative, that the collaboration aims to address water security challenges in the region and beyond.
He also stressed that the MENA region accounts for about 55 percent of the world’s desalination production. However, he stressed the importance of exploring alternative solutions such as water recycling, improved resource management, and the integration of artificial intelligence and modern technologies to detect leaks and improve smart irrigation systems to increase efficiency.
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Source : news agency wam
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