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Oil nets $440bn for GCC and Libya
- Saudi Arabia: Sunday, July 02 - 2006 at 11:09
Oil export proceeds from the six GCC nations and Libya reached $440bn last year, more than doubling since 2002 when the figure was $186bn, according to a World Bank report cited in the Gulf News. Their economies also grew by an average of 7% in 2005, up from 5.6% in 2004 and pushing the region's growth rate to 6%.
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Jonathan Sheikh-Miller, Deputy EditorSunday, July 02 - 2006 at 11:09 UAE local time (GMT+4)
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