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Article: IMF urges GCC states to increase public spending.
- Article from:
- The Daily Star (Beirut, Lebanon)
- Article date:
- October 12, 2009
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Summary:
Gulf Arab oil exporters, facing anemic growth of 0.7 percent this year and a more robust 5.2 percent next year, must keep up public spending in 2010 to help their economies recover from the global downturn, the International Monetary Fund said on Sunday.AaThe pick up in growth next year is based on rising oil revenues but is still below pre-crisis estimated growth rates of around 7 percent, when oil touched $147 a barrel.
Raissa KasolowskyAa
Reuters Aa
Aa
DUBAI: Gulf Arab oil exporters, facing anemic growth of 0.7 percent this year and a more robust 5.2 percent next year, must keep up public spending in 2010 to help their ...