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Berri: It is our fate every Eid al-Adha to offer sacrifices in defense of Lebanon and its sovereignty, and the aggression will not prevent us from celebrating our holidays
Berri: Our positions must be unifying for all Lebanese in confronting the Israeli aggressiveness, which does not target a specific sect or region, but rather all of Lebanon and the Lebanese, and even Arabs and Muslims in their holiest sanctities
Speaker of the Parliament of Lebanon Nabih Berri: Our position regarding the continuous Israeli violation of Lebanon is identical to and adopts the position of the President of the Republic in all national and sovereign dimensions
Israeli raids strike eight residential buildings in Beirut’s southern suburbs; shelling reported in Ain Qana, southern Lebanon
Al Mayadeen's correspondent: Another Israeli airstrike targets Beirut’s southern suburb
Saree: The operation comes in solidarity with the oppressed Palestinian people and in response to the aggression against Beirut’s southern suburb
Yemeni Armed Forces spokesperson: The operation successfully achieved its objective, forcing millions of Israeli settlers to flee into shelters
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Salam: We call on the international community to hold "Israel" accountable, halt its attacks, and ensure full withdrawal from Lebanese territory
Salam: These attacks constitute a blatant violation of Lebanese sovereignty and UN Security Council Resolution 1701

GCC growth to slow in 2025: Reuters poll

  • By Al Mayadeen English
  • Source: Agencies
  • 25 Apr 2025 15:28
  • 1 Shares
3 Min Read

GCC economies are expected to grow slower in 2025 due to weak oil demand and global uncertainty, with Saudi Arabia and UAE facing revised forecasts despite higher OPEC+ production.

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  • The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen outside of OPEC's headquarters in Vienna, Austria, March 3, 2022. (AP)The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen outside of OPEC's headquarters in Vienna, Austria, March 3, 2022. (AP)

Most Gulf Cooperation Council (GCC) economies are expected to grow at a slower pace in 2025 than previously forecast, according to a Reuters poll, as concerns about a global economic slowdown weigh on regional prospects. Despite expectations of increased oil production, the region faces rising risks that could dampen growth, primarily due to weaker global demand for oil, the main source of revenue for GCC countries.

The global economic downturn, rather than fluctuating US tariff policies, poses a greater threat to the region’s outlook. Brent crude prices have recently reached their lowest levels since the pandemic and are forecast to remain subdued throughout the year due to weaker demand and rising supply.

The Organisation of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, are expected to increase oil output next month, potentially extending production increases through June. However, this move may not be sufficient to counter the downward pressure on prices.

The International Monetary Fund (IMF) recently downgraded its growth forecast for Saudi Arabia, citing significant challenges for the broader GCC. Lower oil prices are likely to reduce both export revenues and fiscal income, leading to a more cautious economic outlook.

Saudi Arabia and UAE growth projections for 2025

According to the April 9-24 Reuters poll of 19 economists, Saudi Arabia’s economy is forecast to grow by 3.9% in 2025, a slight revision from the 4.0% predicted in January. Alina Slyusarchuk, chief CEEMEA Economist at Morgan Stanley, noted, “As global recession fears rise, a lower oil price would also weigh on Saudi exports and fiscal revenues... The outlook for the oil price has deteriorated considerably.”

Slyusarchuk added, “Given the weakening outlook for both the volumes and the prices of Saudi Arabia's key exports, we see downside risk to our growth forecast.”

The United Arab Emirates' (UAE) economy is projected to grow by 4.5%, down from a previous estimate of 5.0%, yet it remains the fastest-growing economy in the GCC.

Growth expectations for other GCC economies in 2025 are more modest. Kuwait’s economy is expected to expand by 2.5%, Qatar by 2.7%, Oman by 2.8%, and Bahrain by 2.8%.

Economists at Citi wrote, “The unexpected OPEC+ decision to boost production and fears of a global slowdown owing to sweeping U.S. tariffs carry major implications for the region.” They emphasized that the forecasts for 2025 are subject to an unusually high degree of uncertainty due to complex oil market dynamics and global economic shifts.

Inflation across the region is anticipated to remain stable, ranging between 1.2% and 2.5%. Oman is expected to have the lowest inflation at 1.2%, while Kuwait may see the highest at 2.5%. Inflation in Saudi Arabia and the UAE is projected to average 2.0%, with Qatar and Bahrain at 1.5%.

  • Oil demand
  • United Arab Emirates
  • OPEC+ production
  • US tariff policies
  • inflation
  • GCC growth
  • GCC economies
  • Saudi Arabia

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