June 30, 2020 / 11:30 AM / 6 days ago

GCC economies expected to shrink by 7.6% this year - IMF

DUBAI, June 30 (Reuters) - Gulf Cooperation Council (GCC) countries will see their economies shrink by 7.6% this year amid low oil prices and the new coronavirus crisis, a senior International Monetary Fund official said on Tuesday.

Jihad Azour, director of the IMF’s Middle East and Central Asia Department, was speaking at a virtual economic forum. (Reporting by Davide Barbuscia, Marwa Rashad; Editing by Alex Richardson)

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