Gulf Economies Face Growth Challenges Amid Regional Tensions

Oxford Economics' Maya Senussi reports that Gulf Arab economies are encountering significant growth obstacles due to escalating regional conflicts following joint actions by the U.S. and Israel against Iran. According to Jin10, Senussi, the chief economist, highlights that preliminary forecasts from Oxford Economics indicate a reduction in GDP growth rates for Gulf Cooperation Council (GCC) member countries by 1.9 percentage points from the previous benchmark of 4.4% this year. Among the GCC nations, Oman and Saudi Arabia are expected to experience a milder deterioration compared to their smaller neighbors. The GCC includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.