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GCC’s non-energy sectors to drive GDP expansion in 2024

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Muscat: The latest Economic Insight report for the Middle East, commissioned by ICAEW and compiled by Oxford Economics, reveals the region is expected to defy the global slowdown in 2024 as non-energy sectors continue to drive growth. The pace of the Middle East’s GDP growth is predicted to rise to 3.2% next year, above the global GDP growth forecast of 2.1%.

According to the Q4 report, the Middle East economy will expand less than initially expected this year, with GDP growth expected at 1.3%. However, growth will improve in 2024 and…

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