On June 30, the International Monetary Fund (IMF) announced that the economic performance of the countries in the Gulf Cooperation Council (GCC) will decline by 7.6% following the coronavirus outbreak.
“We expect the performance of the GCC countries to decline by 7.6% this year. The reduction will occur in all sectors, including the oil sector, ”said Jihad Azour, Director of the IMF’s Middle East and Central Asia Department, at the virtual economic forum.
Azur noted that the economies of oil-producing countries in other regions “may face even greater consequences of the crisis.”
IMF: Economic indicators of the Gulf countries will decline by 7.6%
On June 30, the International Monetary Fund (IMF) announced that the economic performance of the countries in the Gulf Cooperation Council (GCC) will decline by 7.6% following the coronavirus outbreak.
“We expect the performance of the GCC countries to decline by 7.6% this year. The reduction will occur in all sectors, including the oil sector, ”said Jihad Azour, Director of the IMF’s Middle East and Central Asia Department, at the virtual economic forum.
Azur noted that the economies of oil-producing countries in other regions “may face even greater consequences of the crisis.”
One of the reasons for the crisis can be called a change in the political climate in a number of Arab countries, as well as tense relations with Turkey throughout the past year.
