GCC projects market slumps in the first half of this year

“The IMF’s prediction that economic growth will slow in the region in 2018 has been borne out by a further drop in project awards.”

“Although the slowdown may be partially due to the earlier timing of Ramadan this year, the downward trend has been evident since 2015, when the GCC hit a high of $177bn of EPC contracts awarded. Comparing the first half of 2017 with the first six months of 2016 shows a drop of 16.9 percent, which means the…”

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