MANAMA: The GCC non-oil economy is showing further signs of rebounding from the initial shocks of sharply lower oil prices and an unprecedented government commitment to fiscal consolidation.
The Economic Development Board (EDB)’s Bahrain Economic Quarterly for June says the IMF now expects non-oil growth in the GCC to accelerate from an annual pace of just under two per cent in 2016 to 3pc in 2017 .