Gulf Arab states to see lower 2012 growth

Wednesday, 28 March 2012 00:04 - - {{hitsCtrl.values.hits}}

KUWAIT (Reuters): Gulf Arab oil exporting countries are expected to see lower economic growth of around 4 percent this year due to a drop in global demand, Kuwait’s Finance Minister Mustapha al-Shamali said on Tuesday.

“It is expected that the average economic growth rate of the GCC (Gulf Cooperation Council) countries will slow down to about 4 percent in 2012,” Shamali told a financial conference.

Asked whether he expected Kuwait’s growth would be higher in 2012, he told reporters: “We hope so. About 5 something.”The OPEC member country releases its gross domestic product data with a significant lag.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.