Gulf Cooperation Council: Economic Prospects and Policy Challenges for the GCC Countries

Publication Date:

November 29, 2022

Electronic Access:

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Summary:

GCC policymakers have managed to quickly mitigate the economic impact of the twin COVID-19 and oil price shock. Commodity prices have surged, and the outlook is more positive for GCC countries, with new challenges linked to Russia’s invasion of Ukraine and tighter global financial conditions expected to have a limited impact on GCC economies. While GCC countries have overall benefited from higher, albeit volatile hydrocarbon prices, numerous risks still cloud the outlook—notably a slowdown in the global economy. In this context, the reform momentum established during the low oil price years should be maintained—irrespective of the level of hydrocarbon prices.

Series:

Policy Paper No. 2022/052

Subject:

Frequency:

occasional

English

Publication Date:

November 29, 2022

ISBN/ISSN:

9798400226670/2663-3493

Stock No:

PPEA2022052

Pages:

53

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