arh777
03-14-2005, 12:22 PM
MENAFN - 14/03/2005
(MENAFN) Higher oil prices have further fueled the already growing economies of the Middle East in general and the GCC countries in particular, Arab News reported.
The pace of growth picked up in 2004 on higher oil revenues, increasing government spending and a fairly active private sector, a report said.
The oil sector is expected to grow in 2005, maintaining the same tempo given the new higher range in oil prices.
Against the backdrop of increased government spending and growing public and private domestic investment, the private sector is also destined to grow remarkably.
(MENAFN) Higher oil prices have further fueled the already growing economies of the Middle East in general and the GCC countries in particular, Arab News reported.
The pace of growth picked up in 2004 on higher oil revenues, increasing government spending and a fairly active private sector, a report said.
The oil sector is expected to grow in 2005, maintaining the same tempo given the new higher range in oil prices.
Against the backdrop of increased government spending and growing public and private domestic investment, the private sector is also destined to grow remarkably.