AlHijjah 12, 1432, Nov 8, 2011, SPA - The current account surplus of member countries of the Gulf Cooperation Council (GCC) is expected to surge 71 percent to $279 billion this year from $163 billion as the region's economy would record more than seven percent growth in 2011, according to the latest assessment of the International Monetary Fund (IMF). “In 2011, the oil exporters' combined external current account balance in the Middle East and North Africa region is expected to increase from $202 billion to $334 billion (excluding Libya), and from $ 163 billion to $ 279 billion for the GCC,” the IMF was quoted as saying by the Jeddah-based Saudi Gazette in a report published today.
