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

November 29, 2022

Preview Citation

Format: Chicago

Gulf Cooperation Council: Economic Prospects and Policy Challenges for the GCC Countries, (USA: International Monetary Fund, 2022) accessed December 22, 2024

Also available in: العربية

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.

Subject: Monetary policy, Political economy

Publication Details

Pages:

53
Volume:

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DOI:

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Issue:

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Series:

Policy Paper No. 2022/052
Stock No:

PPEA2022052
ISBN:

9798400226670
ISSN:

2663-3493

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