GCC-Stat: Growth pace will accelerate in coming years to reach 4.3% by 2027

A report by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) indicated that the economies of the GCC countries recorded a balanced performance during 2024 despite global challenges, as the real GDP growth rate reached about 1.9%, driven by a 4.4% growth in non-oil sectors — reflecting progress in implementing economic transformation strategies.

The report also projected that the growth pace will accelerate in the coming years to reach 4.3% by 2027, supported by expanding investments in tourism, renewable energy, manufacturing, and technology sectors.

The GCC-Stat) report, "Economic Performance Outlook 2024 - Enabling fiscal sustainability and enhancing non-oil growth'', provides a comprehensive analytical overview of the macroeconomic performance of the GCC countries during 2024, including indicators of economic growth, inflation, public finance, public debt, fiscal sustainability as well as developments in financial markets, monetary and banking policy, foreign direct investment, foreign trade, and the Gulf labor market.

WAM