MENA Economic Growth projected in upward trend
As per the recent study done by Focus Economics – a leading economic analysis and forecast team, Economic Growth of the MENA (Middle East & North Africa) region will be 2.3 % for the year 2016. This is the lowest rate since the year 2009; after the economic meltdown. However CA. Manu Nair, CEO Emirates Chartered Accountants group is of the opinion that while considering the diversification of economy to non oil sectors and the possible slight increase in the oil price in coming year/s, the Economic Growth will definitely show positive drift in coming year/s. The head of Economic Research at Focus Economics said, MENA growth would be slightly stronger at 2.8 per cent in the year 2017; Khaleej Times reported.
News from khaleej Times, read more: http://khaleejtimes.com/business/economy/mena-to-grow-at-23-in-16
