Real GDP growth reaches 3.6% in 3Q15/16 and 4.3% in 9M15/16, Planning Ministry said
The Ministry of Planning said in a statement that real GDP growth reached 3.6% in 3Q15/16 compared to 3.3% in 3Q14/15. Growth is down to 4.3% in 9M FY15/16, from 4.8% in the same period in FY14/15, due to slowdown in tourism and mining industries, as well as the downside pressures of oil price slump on GCC economies, the Ministry stated. We forecast real GDP growth to reach 3.7% in FY15/16. (Reuters, Mohamed Abou Basha)
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