MUSCAT: A new poll conducted by Reuters news agency revealed that the economies of the Gulf Cooperation Council (GCC) countries is expected to grow at a fast pace in 2022.

The poll, conducted from January 11 to 19, expected the six economies in the Gulf Cooperation Council to grow faster in 2022 than what was expected three months ago. The poll included 25 economists.

The poll pointed out that the economic growth rate in Qatar, Oman and Bahrain is expected to range between 3 to 4 percent in 2022. If this is achieved, this will be the best that these countries have witnessed in several years.

According to the poll, Saudi Arabia is expected to top the list with a growth of 5.7 percent, followed by Kuwait and the UAE with 5.3 percent and 4.8 percent, respectively.

“The prospect of lower oil prices remains the biggest risk to the GCC region, while supply chain disruptions will continue to play a role in global growth, but not so much for the GCC economies,” said Ralph Weigert, head of economics at IHS Markit.

Khadija Haq, Head of Research and Chief Economist at Emirates NBD, said, “Despite relatively tight fiscal policy, and some adverse external events, we expect GCC economies to experience faster growth in 2022 as they continue to build on the progress that has been made. achieved last year.”