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In: Economics

Compare GDP growth of GCC over the past 3 years. I want for (2017-2018-2019 ) B....

Compare GDP growth of GCC over the past 3 years. I want for (2017-2018-2019 )

B. Compare FDI exposure of GCC countries for past 3 years. I want for (2017-2018-2019 )

please help me with it , I need much information and numbers

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Expert Solution

GDP growth rate of GCC (2017/2018/2019)

Gulf cooperation council (GCC) is collectively of all the gulf countries which are included in the council. In 2017 the GCC saw a real slow growth to 0.5% , majorly complying in lower oil output. The agreement, which came into force in January, has been extended till the end of 2018, further dampening prospects for oil growth. Qatar, Saudi Arabia, Kuwait and the UAE are adhering to the oil curbs.
GCC countries are continuing to adjust to lower oil prices and substantial fiscal consolidation has taken place in most countries. The projected growth is benefiting from a pick-up in global economic activity. Global growth is forecast at 3.6 percent this year and 3.7 percent in 2018, compared to 3.2 percent in 2016.
GCC countries should continue to focus on expenditure rationalisation, further energy price reforms, increased non-oil revenues, and improved efficiency of capital spending, the report said. The UAE and Saudi Arabia introduced this year an excise tax on energy drinks and tobacco at a rate of 100 per cent and on fizzy drinks at a rate of 50 per cent and both plan to levy a 5 per cent valued-added tax on January 1.
The fund estimates that revenue from these reforms, which will vary across countries, could generate 1.7 to 6.6 per cent of non-oil GDP by 2019 depending on each country’s reforms.
The introduction of VAT in the region could generate new revenue of 1.5-3 per cent of non-oil GDP, the fund said. GCC GDP in constant prices, is forecast to be 1.7% in 2017 grow by 2.2% in 2018 and by 2.8% in 2019, while the GDP at current prices is forecast to grow by 6.4% in 2018 and 4.1% in 2019.

FDI Exposure of GCC (2017/2018/2019)

​​​​​​The GCC are expected to post robust growth over the next decade both in
terms of population and GDP. By 2019 the GCC population is forecast to reach 53.5m, a 30% increase over the level in 2000. Over the same period, the region’s real GDP is expected to grow by 56%. Nominal GDP, which was US$341.6bn in 2000, is forecast to soar to over US$1trn in 2010 and US$2trn in 2020.Although the economic forecast is positive, it carries a risk: that unmanaged growth will bring
negative side-effects such as power shortages and soaring prices, in particular for food. Some GCC states are already experiencing sporadic shortages of electricity and gas, while water supplies are already strained and food shortages loom as risks for an import-dependent region. A key challenge for the Gulf in the next decade therefore will be to manage energy, water and food resources to ensure both high living standards and sustainable growth in the long term. FDI in Saudi Arabia is mediated by SAGIA, which issues licences and determines ownership rules. It has been expanding the range of sectors where 100% ownership is permitted, adding retail and wholesale trade to the list in 2016 and engineering in 2017, as part of efforts towards the Saudi Vision 2030; in other approved sectors, only 75% is permitted. This relative openness, and the size of the Saudi economy, explain why it ranks second in the region for FDI penetration. It has also seen flows remain relatively strong in recent years. Total foreign ownership of GCC equities stood at about $60bn at end-March 2018, about 6% of market capitalisation. In addition, other GCC nationals, not categorised as foreigners, are major investors, owning nearly 7% of the Abu Dhabi market, for example. The upgrade of the Saudi market may push it into the lead, a large part of existing foreign ownership is in historic strategic partnerships in various banking and industrial firms. FinTech has been a hot topic in the region, and we now are beginning to see its impact. Digitalization in retail banking is leading to productivity gains, less overhead, and – ultimately – further consolidation in the market. The UAE is at the forefront, but is not alone. As we enter 2019, there are several major banking sector mergers on the horizon, driven – in part – by technological disruption. data and analysis on Foreign Direct Investment (FDI) flows reveals that despite an increase of 12% in 2019 to USD 1 426 billion, global FDI flows remained below levels recorded between 2010 and 2017. Compared to 2017, FDI flows decreased by 15%, continuing the downward trend observed since 2015.


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