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Muscat: Defying regional and global geopolitical challenges, GCC project awards increased by 20.3 percent year-on-year during the first quarter (Q1) of 2024 to reach $45 billion as compared to $37.4 billion during Q1-2023, according to a new report.
“The trend also defies oil production cutbacks which have all weighed on economic growth in the region as seen from IMF’s latest forecast that slashed GCC economic growth forecast for 2024 to 2.4 percent from its previous forecast of 3.7 percent,” the Kuwait-based Kamco Invest said in its…
