Expectations of an improvement in economic growth in the Middle East during 2023

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Dubai – Mubasher: Two-thirds of CEOs are expected to improve economic growth in the Middle East.

This came according to the results of the Middle East region in the 26th CEO Perceptions Survey from PwC Middle East, which included 4,400 CEOs in 64 countries.

The survey looks at Middle Eastern CEOs’ confidence in regional growth and their efforts to transform their businesses by adopting new technologies, investing, increasing cost and efficiency, driving transactional activity and taking active steps to mitigate climate change risks.

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However, CEOs have a pessimistic view of the outlook for the global economy with 73 percent of global CEOs and 82 percent of regional CEOs expecting a decline in global growth over the next 12 months.

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While only 21 percent of North American CEOs and 18 percent of European CEOs are confident in revenue growth in their markets. This contrasts sharply with the picture in the Middle East where 63 percent of CEOs in the region are confident that their company’s revenue will grow in the next 12 months, while 71 percent of CEOs are confident in their expectations for growth over the next three years.

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