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.
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Governments generally make bad loan customers, as seizing territory is generally not possible for banks trying to collect unpaid loans.
The United Arab Emirates has done the unthinkable among many rentier economies by reducing petrol subsidies and tying the price of fuel to international markets.
While a nuclear agreement between Iran and the P5+1 is a diplomatic breakthrough, there has also been a massive realignment of investment and infrastructure targets across the Middle East that has been in process for many months, if not years, in anticipation of this week’s announcement.