According to the Gulf Economic Newspaper, the report expected that the UAE economy will grow by 2.4% this year and by about 2.6% in 2020, and the report suggested that the average growth of GDP For the Middle East and Africa to about 1.8% this year, and 2.6% next year.
The report published by the institute on a regular basis on capital flows and global economic growth suggested that the average price of Brent crude in the current year reaches 65 dollars per barrel, and about 60 dollars per barrel in 2020.
In light of these oil price levels, it is expected that the combined current account surplus of the GCC countries will decrease from 147 billion, ”said Garbis Irradian, chief economist of the Institute for the Middle East and North Africa region. Dollars in 2018 to 91 billion dollars this year.
He added: The institute expects higher flows to the debt portfolio of countries in the region from 48 billion dollars in 2018 to about 60 billion dollars in 2019, especially with the entry of the Gulf Cooperation Council countries into an index GB Morgan Emerging Market Bonds.
The Institute expected the continued growth of foreign investment flows to stock markets in the UAE and in the region in the remaining three months of the first half of 2019, the growth shown in the first months of This year.
The institute said that the capital inflows from residents in the GCC countries are expected to reach $ 235 billion, and this is likely to contribute to raising the value of the external assets of the GCC countries to $ 3.1 trillion, 70% of which is managed by sovereign wealth funds, and the remaining 30% is official reserves.
The institute's report drew a positive picture of global growth in the current year with expectations of global growth of 2.9% this year, and about 3% in 2020 with an expected recovery in the economies of The euro area and some emerging markets next year. He expected a weak recovery in global capital flows from $ 1.14 trillion last year to $ 1.26 trillion this year.
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