(MENAFN) The acceleration of global trade in the Jan-June period of this year is projected to grow to 2.6 percent, as exposed ICAEW.
Accordingly, the accountancy and finance body noted governments through the region must grow their non-oil revenues in order to keep longer oil production cuts.
Moreover, the broad-based jump in the world economy is offering a useful tailwind to some GCC economies; others are likely to benefit from this rebound.
Next year outlook will be more positive, while oil output is projected to grow by 1 percent complementing momentum in the sector.
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