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The IMF projects a 2.7% contraction in GCC real GDP for 2020 due to the impact of Covid-19, with non-oil sectors expected to decline by 4.3%. The report anticipates a recovery in 2021, with real GDP growth rebounding to 3.3%, driven by non-oil economic growth. Additionally, the document highlights the need for improved credit and monetary indicators to support non-oil diversification efforts in the region.

Author

leenngan163

Language

EN