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IMF chief predicts sustainable Gulf growth

Associated Press Modified: October 6, 2012 at 10:46 am •  Published: October 6, 2012
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"Nevertheless, given the uncertain global outlook, continued emphasis on strengthening resilience, including in fiscal and financial sectors, will be important alongside greater focus on the foundations for longer-term growth," she said.

An IMF official, who spoke on condition of anonymity in line with the organization's policy, said following the GCC's strong performance in 2011, growth in the nations' non-oil sectors is expected to slow as fiscal stimulus eases, but remain high by historical standards at around 6.5 and 5.6 percent in 2012 and 2013, respectively.

Saudi Arabia is one of the largest donors to countries of the region and contributors to the IMF.

Riyadh pledged an additional $15 billion earlier this year to the IMF following the fund's call for new resources, the official said.