Saudi Arabia, Gulf Economies To Slow Down Due To Output Cuts

Gulf Cooperation Council (GCC) economies will grow at a considerably slower clip in the current year due to the ongoing oil production cuts, with Saudi Arabia’s economy among the hardest hit, a Reuters poll of economists has predicted.  A poll of 24 economists taken July 8-22 has predicted that Saudi Arabia's economy will expand 1.3% in the current year, down from 1.9% forecast in an April survey and 3.0% predicted in January.  However, the United Arab Emirates (UAE), is expected to post a better growth rate at 3.7%  as…