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Global Economic Outlook
Gulf Cooperation Council Outlook Update: Stability Focus Brings Economic Boom
By Ayah El Said and Rachel Ziemba
Higher oil revenues support massive government expansion, with richer countries supporting more cash-strapped neighbors. Property overhang dampens inflation in UAE and Qatar, while supply bottlenecks boost inflation in Kuwait and Saudi Arabia. Credit growth is becoming more of a support as social transfers boost deposits, but public-sector borrowing needs[...]