Page 14 - Arabian Business

GCC

Growth forecasts, football, tourism and Expo 2020

Riyadh Kuwait City

SAUDI SAUDI KUWAIT

IMF raises Saudi players Kuwait scores

Saudi growth head to Spain high on
prospects for World Cup environmental
The International Monetary boost performance
Fund (IMF) last Monday
raised its growth projection Kuwait surged 52 spots on the
for the deficit-hit Saudi Environmental Performance Jeddah
economy on the back of Index to reach 61st out of 180
higher oil prices, but retained countries, the Environment
its estimates for the region. Public Authority (EPA) said
In its World Economic last Wednesday.
Outlook update, the IMF According to the new
said the Saudi economy – assessment, Kuwait recorded
which shrank 0.7 percent the “second highest score in
last year – is expected to u Saudi winger Salem Al Dawsari the Gulf and Arab regions,”
grow by 1.6 percent in EPA director general and
2018, up 0.5 percent on its Saudi Arabia are gearing up chairman Sheikh Abdallah q JEBEL ALI PORT
October estimates. The Saudi for their fi rst World Cup Finals Ahmad Al Humoud Al Sabah AND FREE ZONE
economy is also projected to appearance since 2006 by said in a statement. CONTINUES TO
grow by 2.2 percent in 2019. sending a number of players on The index is a joint effort
The IMF, however, loan to Spain to gain experience. between Yale University INVEST IN
maintained its October At least six players have joined and Columbia University in INFRASTRUCTURE
projections for growth in the Spanish clubs following an collaboration with the World TO DIVERSIFY
Middle East, North Africa, agreement between Economic Forum (WEF).
Afghanistan and Pakistan Spain’s La Liga and the Saudi On its website, the SOURCES OF
(MENAP) region at 3.6 percent Arabian Football Federation. EPI, which measures INCOME AND BUILD
and 3.5 percent for 2018 and Villarreal, Leganes and environmental health and A SUSTAINABLE
2019 respectively. Levante from the top fl ight, ecosystem vitality over several ECONOMY BASED
“While stronger oil prices alongside second division performance indicators,
are helping a recovery in outfi ts Gijon, Valladolid said the improvement was ON KNOWLEDGE
domestic demand in oil and Rayo Vallecano, each due to the “establishment of AND INNOVATION”
exporters, including Saudi simultaneously announced areas protecting biodiversity Sultan Ahmed Bin Sulayem,
Arabia, the fiscal adjustment last Sunday that they had and habitat.” chairman and CEO of DP World Group
that is still needed is signed a Saudi player.
projected to weigh on growth Villarreal have taken winger
prospects,” the IMF said. Salem Al Dawsari, Leganes have
Last year, the Saudi signed up attacking midfi elder
economy contracted for Yahia Al Shehri, while Levante
the first time since 2009. have signed forward Fahad
Al Muwallad.
The loans come less than fi ve
$260bn months before the World Cup
in Russia begins. Saudi Arabia
have been drawn in a tough
Saudi Arabia’s budget defi cit group alongside the hosts,
over the last four fi scal years Uruguay and Egypt. u Kuwait is laying out plans for sustainable development
14 Vol. 19/04, January – February 2018