GCC economies bounce back with National Visions firmly in sight – PwC Middle East Economy Watch reports

GCC economies bounce back with National Visions firmly in sight – PwC Middle East Economy Watch reports

PwC’s latest Middle East Economy Watch - Advancing with National Visions shows that the GCC is especially well placed to implement their long-term National Vision transformation plans due to substantial financial resources to direct to their objectives, and the leadership continuity and commitment to see them through. Overall, progress on key KPIs across the region is promising, with some room for improvement on others.

As global economies experience what the IMF has described as a “rocky recovery” post pandemic, marked by inflation, high interest rates and geopolitical uncertainty, GCC economies are bouncing back, even in the worst-affected sectors. This positive outlook is attributed to high oil prices and strong balance sheets at the sovereign and corporate levels, as well as continued diversification and economic resilience as countries pursue their National Visions. However, the wider Middle East remains more vulnerable to these global trends, according to the report.