Hafez Ghanem, Vice President of the World Bank for the MENA region, speaks during an interview in Beirut, Tuesday, April 28, 2015. (The Daily Star/Mohammad Azakir)
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A World Bank report has projected economic growth in the Middle East and North Africa will reach 3.1 percent in 2018 compared to 2 percent in 2017 .Oil and gas remain the main source of income for the Gulf Cooperation Council states despite efforts to diversify their economies.The prices of oil are expected to increase as OPEC maintains gradual cuts in crude output this year.The report commented on the massive investment in renewable energy by many Arab countries.
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