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Middle East unscathed by global credit crisis
- Middle East: Saturday, October 11 - 2008 at 13:02
The global International Monetary Fund has said the global credit crisis has so far had little impact on Middle Eastern countries, where economic growth is being sustained by non-oil sectors. But the IMF said in its semi-annual World Economic Outlook that oil exporting countries are suffering from high inflationary pressures. It said that gross domestic product growth in the Middle East would weaken next year, but only by 0.5% to 6%.
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StaffSaturday, October 11 - 2008 at 13:02 UAE local time (GMT+4)
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