Increase expected in Gulf economic growth due to higher oil prices

Gulf sources said today that a good jump is expected to take place in the Gulf states' economic growth, due to the continuous increase in the prices of petroleum in world markets.

The sources added that the governments which depend upon petroleum exports as a main source of income are not afraid to ease on the previous austerity measures in general budgetary expenditures, which were decisively implemented.

Moreover, the sources referred to some analysts who had reservations about the current optimism in that world petroleum prices might fall once more.