The GCC states, which registered impressive growth in the past three years, are projected to have another year of robust growth in 2006. Gross Domestic Product (GDP) of the six-nation Gulf Co-operation Council indicated a real annual growth of just 2.5% on average between 1998-2002 when oil prices dropped sharply, the IMF said.
But real GDP grew strongly by 8.5%, 5.9% and 6.8% in 2003, 2004 and 2005, respectively and is slated to grow by a healthy 6.4% in the current year.
