ID :
14880
Mon, 08/04/2008 - 11:55
Auther :
Shortlink :
http://m.oananews.org//node/14880
The shortlink copeid
GDP of GCC reaches $735 billion
MANAMA, August 04, SPA -- The Gulf region, with an average sustained growth of 5.5 percent annually, has become one of the most robust economic blocs in the world. The combined gross domestic product of the Gulf Cooperation Council (GCC) is already $735 billion and by 2050 could close the gap with G-7 economies, the Economic DevelopmentBoard (EDB) said in its annual report.
Regionally, the report said the oil-price windfall has been re-invested in new infrastructure including transport,telecommunications, education, training and health care.
Around $1 trillion infrastructure investments are in the pipeline.
By 2010 this could reach a total of $3 trillion, the Jeddah-basedArab News quoted the annual report as saying.
The population of the Gulf has grown 10-fold in 50 years, to 40 million two years ago, one of the highest rates in the world, theannual report said.
The GCC is made up of Saudi Arabia, the United Arab Emirates,Kuwait, Qatar, Bahrain and Oman.
Regionally, the report said the oil-price windfall has been re-invested in new infrastructure including transport,telecommunications, education, training and health care.
Around $1 trillion infrastructure investments are in the pipeline.
By 2010 this could reach a total of $3 trillion, the Jeddah-basedArab News quoted the annual report as saying.
The population of the Gulf has grown 10-fold in 50 years, to 40 million two years ago, one of the highest rates in the world, theannual report said.
The GCC is made up of Saudi Arabia, the United Arab Emirates,Kuwait, Qatar, Bahrain and Oman.
