GCC economic recovery to be ‘slow and uneven’
MANAMA: Recovery from this year’s recession in the GCC is expected to be slower and more uneven as compared to developed economies, despite the positive news on Covid-19 vaccines, says a new report by one of the largest regional banks. According to Emirates NBD’s last Monthly Insights publication for 2020, the main reason for a somewhat sluggish regional outlook is that government support during the pandemic was largely focused on liquidity provision through the central banks, rather than direct fiscal stimulus from governments to households and businesses .
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