{"id":579136,"date":"2023-01-25T04:15:48","date_gmt":"2023-01-25T04:15:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/gulf-growth-set-to-halve-on-weaker-crude-demand-imf-doesnt-want-ems-to-lose-out-in-the-green-transition\/"},"modified":"2023-01-25T04:15:48","modified_gmt":"2023-01-25T04:15:48","slug":"gulf-growth-set-to-halve-on-weaker-crude-demand-imf-doesnt-want-ems-to-lose-out-in-the-green-transition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/gulf-growth-set-to-halve-on-weaker-crude-demand-imf-doesnt-want-ems-to-lose-out-in-the-green-transition\/","title":{"rendered":"Gulf growth set to halve on weaker crude demand + IMF doesn\u2019t want EMs to lose out in the green transition"},"content":{"rendered":"

<\/a> Gulf oil exporters will see economic growth halve this year<\/strong> as revenues decline on the back of the global economic slowdown, according to a Reuters<\/a> poll of economists. Crude prices have fallen more than a third from last year and the trend is expected to continue this year as recession fears weaken demand. \u201cThe outlook for 2023 is more cautious given the weaker external environment, although the GCC will likely continue to outperform many developed economies in terms of GDP growth,\u201d according to Khatija Haque, Emirates NBD\u2019s head of research and chief economist.<\/p>\n

IMF head Kristalina Georgieva has warned that western green subsidies risk <\/strong>leaving emerging markets in the cold<\/strong>, reports AFP<\/a>. The tax cuts and subsidies being offered by the US to invest in low-emission technologies are likely to transfer technology and production away from emerging countries to advanced economies, she said during the World Economic Forum on Friday. We recently looked at similar concerns over the EU\u2019s incoming carbon border tariff<\/a>, and ESG investing<\/a>.<\/p>\n

ALSO WORTH NOTING-<\/strong><\/p>\n