Gulf Monitor

Gulf Monitor

The countries of the GCC – the Kingdom of Saudi Arabia, the UAE, Kuwait, Qatar, Oman, and Bahrain – continue to be reliant on natural resources as a primary source of fiscal revenue. Their citizen populations expect a range of social services and patronage from the state and its ruling families. Pressures of population growth and expectations of intergenerational equity have put economic policy at the centre of state capacity.

 

There is new momentum to resolve, or at least begin to shift public policy to address inefficiencies like subsidies, spur private sector and non-oil growth, and create alternate sources of government revenue. The momentum accelerated with a sharp decline in global oil prices in late 2014.

 

Castlereagh’s Gulf Monitor provides an insight into key developments in economic diversification, monetary and fiscal policy, social policy and foreign relations in line with the collective ambitions of GCC states to change their economies, yet preserve their systems of governance.

 

Also housed on this page is the Market Watch collection by Karen E. Young, who has followed and mapped closely the GCC states’ policy response since 2015. It is an authoritative guide to understanding policy formation, reaction and hydrocarbon reliance in the GCC in the last five years.

The Lure of Technology in the Gulf

The Lure of Technology in the Gulf

Gulf states are turning to technology as a placement for outward investment and as a source of generating jobs and economic growth in domestic markets.

Economic Nationalism at the Expense of GCC Integration

Economic Nationalism at the Expense of GCC Integration

There are a number of new tax initiatives unfolding across the Gulf Cooperation Council, the most publicized and cohesive of which is the value-added tax to be introduced collectively in 2018.

Market Watch Blog AGSIW | Karen E. Young | Fiscal policy

Oman’s Fiscal Management Problem

Oman’s Fiscal Management Problem

Omani foreign policy is deft; its fiscal policy, however, is struggling.

Market Watch Blog AGSIW | Karen E. Young | Fiscal policy

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