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Gulf Arab States To See Lower 2012 Growth-Kuwait Fin Min

Gulf Arab States To See Lower 2012 Growth-Kuwait Fin Min

"It is expected that the average economic growth rate of the GCC (Gulf Cooperation Council) countries will slow down to about 4 percent in 2012," Shamali told a financial conference.


March 27, 2012 2:23 by

Gulf Arab oil exporting countries are expected to see lower economic growth of around 4 percent this year due to a drop in global demand, Kuwait’s Finance Minister Mustapha al-Shamali said on Tuesday.

Asked whether he expected Kuwait’s growth would be higher in 2012, he told reporters: “We hope so. About 5 something.”

The OPEC member country releases its gross domestic product data with a significant lag.


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