Greater Middle East (bbabo.net), - The economies of the Gulf and the Middle East as a whole will continue to grow despite the global crisis, according to the World Bank. This is reported by the Russian-Arab Business Council.

According to the latest data from the World Bank, real GDP growth in the Gulf countries was 6.9% in 2022. In 2023, the World Bank predicts their 3.7% growth, in 2024 - 2.4%.

In the Middle East and North Africa region, economic growth will slow from 5.7% in 2022 to 3.5% in 2023 and 2.7% in 2024.

The fastest growing economy among the member countries of the GCC (Cooperation Council for the Arab States of the Gulf) in 2022 was Saudi Arabia with a figure of 8.3%.

According to the forecast for 2023, this place will be taken by the UAE economy - the World Bank estimates its expected growth at 4.1% and 2.3% in 2023 and 2024, respectively.

The bbabo.net agency recalls that many leaders of the Arabian monarchies, in particular, the Crown Prince of Saudi Arabia Mohammed bin Salman bin Abdulaziz Al Saud, the ruler of the United Arab Emirates Mohammed bin Zayed Al Nahyan and the Emir of Qatar Tamim bin Hamad Al Thani launched the national Vision programs, within the framework of which a gradual rejection of the dominance of hydrocarbons in the economy and its greater diversification are envisaged.

At one time, the Saudi Crown Prince stated that:

“I don't want to die until I see the Middle East become the new Europe. This is a war (challenge), my personal war (challenge), which I accept, and I am one hundred percent sure that we will achieve our goal.

bbabo.Net