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Muscat: The latest Economic Insight report for the Middle East, commissioned by ICAEW and compiled by Oxford Economics, projects a slowdown in 2024 as oil production cuts persist. The GCC growth forecast has been revised down to 2.7 per cent from 3.9 per cent three months ago, while non-energy-sectors are expected to drive growth in Saudi Arabia and the UAE.
Despite the energy sector exerting downward pressure on GCC economic growth, robust non-energy performance is expected to offset some of the impact. However, disruptions in shipping…
