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According to the International Monetary Fund (IMF) report titled “Economic Prospects and Policy Priorities for the GCC Countries,” the Gulf Cooperation Countries are experiencing healthy non-oil growth. Despite global risks and unfavorable conditions, this growth is being driven by increased investment and capital flows.
The IMF report highlights that Saudi Arabia’s non-oil GDP experienced an average growth rate of approximately 4.5 percent in the first half of the current year, mainly due to private non-oil activities. Similarly, the…
