(MENAFN- Qatar News Agency) ainst this global trend growth in the GCC region continues to strengthen. A strong push for diversification through strong infrastructure spending is pushing up non-hydrocarbon growth. Qatar is leading the region with projected double digit growth in the non-hydrocarbon sector leading to 6.8% overall growth in 2014 and 7.8% in 2015. Overall growth in the GCC region is expected to average 4.5%-5.0% in 2014 and 5.0%-5.5% in 2015 it noted.Last but not least Sub-Saharan Africa continues to be the fastest growing region. Following the much anticipated rebasing of its GDP Nigeria has become the biggest economy in the subcontinent (26th largest in the world) at USD509bn in 2013. It is expected to grow nearly 8% in 2014 and 7% in 2015 on a strong diversification drive. Large investment spending is also boosting growth in countries like Ghana Mozambique and Tanzania.On the other hand conflict in Central African Republic South Sudan and the Democratic Republic of Congo is hampering economic development. Overall the subcontinent is expected to grow by 6.5% in 2014 and 7.0% in 2015.Overall the global growth picture continues to be mixed. While advanced economies are slowly recovering from the global recession their recovery looks fragile and still bumpy. China's growth momentum is slowing but the authorities have already taken measures to address the slowdown. EM growth is likely to weaken further in 2014 on tighter macroeconomic policies and the negative impact of further QE tapering. The only bright spots remain the GCC and Sub-Saharan Africa. Hopefully no further bumps will derail the weak global recovery.(END
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