World Bank: 3.4% Gulf economies growth in 2025
Dubai, February 12 / WAM / The World Bank expected that the economic growth rate of the Gulf states in 2025 will reach 3.4%, to rise to 4.1% in 2026, while it will reach 3.3% for the Middle East and North Africa as a whole.
Osman Dion, Vice President of the World Bank for the Middle East and North Africa, said that the economic expectations of the region indicate the continued growth, albeit at a varying pace between the oil producing countries and imported it.
He explained in a statement to the Emirates News Agency “WAM” on the sidelines of his participation in the activities of the World Summit on Governments held in Dubai, that the Gulf states have a strong economic situation thanks to economic diversification, while some other countries face challenges due to conflicts and instability.
He stressed that the general view of the region is positive, as economic diversification contributes to supporting growth, whether in producing countries or not oil -producing, noting that stability is one of the factors affecting growth in the region, since peace and stability are two essential elements for enhancing economic development.
He added that the World Bank is well aware of the importance of stability in supporting growth, and that the more the region strengthens the path of peace, the greater the chances of achieving stronger economic growth.
He explained that these countries benefit from their investments in the non -oil sectors, which gives them a competitive advantage compared to countries that suffer from conflicts and instability.
In another context, Dion talked about the memorandum of understanding signed by the World Bank with the Mohammed bin Zayed water initiative yesterday, indicating that this partnership aims to address the challenges of water security in the region and abroad, and said that the water is not only an essential element for life, but also it is also A major engine of growth, pointing out that creating innovative solutions is very important given that water scarcity is a major challenge in the Middle East and North Africa region.
He added that the water problem in the region is characterized by four main dimensions: floods that destroy the infrastructure, drought caused by the lack of water, pollution of water resources, and the large waste of water due to leakage and mismanagement.
He pointed out that the region has widely adopted water desalination techniques; About 55% of the global desalinated water is produced in the Middle East and North Africa, but stressed the need to explore other solutions, such as watering water, improving water resources management, using artificial intelligence and modern technology to track leaks and improve smart irrigation systems to achieve higher efficiency.
He stressed that the Mohammed bin Zayed water initiative plays a pioneering role in enhancing water security, noting that the safe world is a stable world, and this is what the World Bank seeks to support through this partnership.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
