International Diplomat Magazine

GCC foreign assets to hit $2.1trillion


GCC foreign assets to hit $2.1trillion(Dubai) – GCC countries will experience robust growth in 2012 on the back of high oil revenues that are expected to hit $572 billion this year, while the net foreign assets of the six-member bloc are projected to hit $2.1 trillion by 2013, the Institute of International Finance, IIF has said in its forecast.
IIF is the leading global association of financial services firms with more than 450 member institutions, said the GCC countries, possessing 40% of proven world oil reserves.