The outlook for the GCC economies looks positive, despite oil prices being half the level they were in 2013 and 2014. That’s according to officials at the World Bank, who believe the main challenge for the future is fiscal adjustment and recommend that current spending be reduced. They also predict that the rate and pace of economic growth is likely to be slower going forward. Nadir Mohammed, Director of the GCC Countries for the World Bank told ARN why he believes economic prospects are very good for the region.
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