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Significance The IMF has revised downwards its forecast for Saudi GDP growth in 2024 to 2.7% but raised its 2025 forecast to 5.5%. This reflects a positive medium-term outlook for the Gulf Cooperation Council (GCC) countries, as they deploy gains from high energy prices to invest in diversification. Impacts Renewable energy, including green hydrogen, will be a core area for new investment, along with real estate, leisure and tourism. GCC financial markets will see vigorous activity, with a steady stream of IPOs. Regional conflicts would likely generate energy price spikes, resulting in short-term revenue gains.
A Wed, study studied this question.
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