GCC economies won't slide on falling oil price

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According to a report, GCC economies are expected to be less affected by plunging oil prices due to higher output in 2015. Also there would be a positive impact of counter-cyclical fiscal policies adopted to support economic activities the Arab Monetary Fund's "Arab Economic Outlook Report" said which contains updated forecasts of economic growth and inflation for Arab countries in 2015 and 2016.  The report said growth rate of GCC economies is forecasted at three per cent in 2015 compared to 3.4 per cent in 2014.  On the other hand GDP of other Arab oil-exporting countries except Algeria is anticipated to contract in 2015 reflecting the impact of declining oil prices on the economies of these countries which will be compounded by the effects of internal developments.