Install requirements:
yum -y install gmp-devel mpfr-devel libmpc-devel glibc-devel glibc-devel.i686 zip unzip jar
Download, untar, configure, compile and install GCC
http://mirrors.kernel.org/gnu/gcc/gcc-5.5.0/gcc-5.5.0.tar.gz
tar -zxvf gcc-5.5.0.tar.gz
cd gcc-5.5.0
./configure
make
make install
Now you need to cleanup the old GCC by removing it (ironically it was required to make the new GCC and now we have to toss it away!
yum remove gcc
rm -rf /usr/bin/gcc
rm -rf /usr/bin/c++
rm -rf /usr/bin/cc
ln -s /usr/local/bin/x86_64-unknown-linux-gnu-gcc-5.5.0 /usr/bin/gcc
ln -s /usr/local/bin/x86_64-unknown-linux-gnu-c++ /usr/bin/c++
ln -s /usr/local/bin/x86_64-unknown-linux-gnu-gcc /usr/bin/cc
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