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High-frequency data paints a positive outlook for non-energy sectors across the GCC even as extended oil production curbs are predicted to slow down the economy.
Within the GCC, Bahrain continues to diversify its economy and reduce reliance on oil revenues. Last year its non-oil growth grew by 3.4%, accounting for nearly 84% of GDP, said the latest Economic Insight report for the Middle East, commissioned by ICAEW and compiled by Oxford Economics.
In Saudi Arabia, investments are expected to flow into key sectors supporting giga-projects, including…
