Musings: GDP of Gulf oil producers to exceed $1tn in 2011: Report Read more: GDP of Gulf oil producers to exceed $1tn in 2011: Report

GDP of Gulf oil producers to exceed $1tn in 2011: Report Read more: GDP of Gulf oil producers to exceed $1tn in 2011: Report - The Times of India htt

written by anjitha at Saturday, December 25, 2010

The combined nominal GDP of gulf oill producers will jump to record levels of over USD 1.1 trillion in 2011 as a result of higher international crude prices and output, a report has said.

The Emirates Industrial Bank report, however, said that the economic growth and public spending by Gulf Cooperation Council (GCC) countries could also trigger fresh inflation fears next year.

The study forecast that the region's economy will grow in real terms by around 5.4 per cent in 2010 and 6.6 percent in 2011 after a sharp slowdown in 2009 in the aftermath of the global economic crisis.

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