‘Current Crises to Affect Gulf Economies’

RIYADH, 8 March 2008 — A senior official of the World Economic Forum for the Middle East said that the current crises in the region would hinder economic development. Daniel Davies, associate director for the Middle East at the World Economic Forum, said that current problems in Iraq, Iran and in Palestine would have a direct impact on the economic progress of the countries in the region. “The countries in the region should pull together to stabilize the economic and political situation in the region. Unless this is done, there cannot be economic development as a whole,” he stressed.