Gulf region to suffer worst recession in 2020 due to oil crash, coronavirus
02.06.2020
MOSCOW (MRC) -- The six-member Gulf Cooperation Council will suffer from the worst recession ever in 2020 due to the oil price crash and the coronavirus pandemic, the Institute of International Finance said in a report June 2, said S&P Global.The economy of the energy-exporting GCC region will shrink 4.4% in 2020, with Oman having the worst contraction of 5.3% among the six countries. GC