Bahrain Business: GCC project contracts fall on supply glitches – Gulf Digital News

Bahrain Business: GCC project contracts fall on supply glitches – Gulf Digital News

Project awards in the GCC contracted sharply during the third quarter of the year as global economic challenges mounted, shows a new analysis. Kuwait-based research firm Kamco’s latest update on the region’s projects market found that the decline was intensified by high inflation and continuing supply chain problems mainly due to China’s intermittent Covid-19 restrictions as well as the sanctions on Russia .