Gulf Economic Update, Spring 2023
The Gulf Cooperation Council (GCC) economies performed strongly in 2022. Amidst a year of economic uncertainty marked by inflation, geopolitical crises, and supply chain insecurity, the GCC region registered remarkable GDP growth of 7.3 percent in 2022. Progress made on structural reforms are bearing fruits on the economy. Despite the uptick, inflation remains relatively muted in comparison to other high-income countries. Looking ahead, the GCC region is projected to grow at a slower pace. The main contributors to this growth are private consumption, fixed investments, and government expenditures through looser fiscal policy in response to high oil revenues. However, downside risks to the outlook are numerous. Special Focus: Non-Communicable Diseases (NCDs) pose a major health burden to the population and governments of the GCC. NCDs are also a growing concern from an economic perspective. To mitigate the health and economic burden of NCDs, the region needs to scale up efforts to target the behavioral and environmental risk factors of NCDs. Effectively addressing NCDs requires a whole-of-government approach, and the effective implementation and monitoring of targeted, evidence-based solutions. Addressing the risk factors of NCDs requires an increased strategic focus on prevention over treatment, targeting of the young and adolescents, and the development and implementation of evidence-informed, cost effective, high impact interventions. Governance structures that can effectively mobilize, incentivize, and hold accountable the many non-health sectors in the implementation and monitoring of cost-effective interventions are critical.
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| Format: | Report biblioteca |
| Language: | English en_US |
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Washington, DC: World Bank
2023-06-27
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| Subjects: | GULF COOPERATION COUNCIL, GCC, INFLATION, ECONOMIC GROWTH, NON-COMMUNICABLE DISEASES, NCDs, |
| Online Access: | http://documents.worldbank.org/curated/en/099540005112341051/IDU0dfad6e2f0791104fa80824b05cb6e69490c2 https://openknowledge.worldbank.org/handle/10986/39932 |
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