Gulf Economic Update, Fall 2021 : Seizing the Opportunity for a Sustainable Recovery

The economic outlook for the Gulf Cooperation Council (GCC) economies appears far rosier now than it did even six months ago. Increased investment and consumption both public and private are contributing to growth while inflation remains subdued in...

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Main Author:	World Bank
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2021
Subjects:	OIL PRICE PUBLIC SECTOR REFORM PUBLIC SECTOR WAGES DIVERSIFICATION STRUCTURAL REFORM ECONOMIC GROWTH ECONOMIC OUTLOOK GULF COOPERATION COUNCIL CORONAVIRUS COVID-19 COVID-19 VACCINATION PANDEMIC IMPACT FISCAL DEFICIT EXPORTS
Online Access:	http://documents.worldbank.org/curated/undefined/403371637952191783/Gulf-Economic-Update-Seizing-the-Opportunity-for-a-Sustainable-Recovery http://hdl.handle.net/10986/36654

id	okr-10986-36654
recordtype	oai_dc
spelling	okr-10986-366542021-12-07T05:10:36Z Gulf Economic Update, Fall 2021 : Seizing the Opportunity for a Sustainable Recovery World Bank OIL PRICE PUBLIC SECTOR REFORM PUBLIC SECTOR WAGES DIVERSIFICATION STRUCTURAL REFORM ECONOMIC GROWTH ECONOMIC OUTLOOK GULF COOPERATION COUNCIL CORONAVIRUS COVID-19 COVID-19 VACCINATION PANDEMIC IMPACT FISCAL DEFICIT EXPORTS The economic outlook for the Gulf Cooperation Council (GCC) economies appears far rosier now than it did even six months ago. Increased investment and consumption both public and private are contributing to growth while inflation remains subdued in most economies except for Saudi Arabia where it is currently at 5.5 percent and expected to fall sharply as the impact of last year’s Value-Added Tax (VAT) hike falls away. Despite this rosy picture, the authorities should continue to follow the path of prudent macroeconomic management consolidating their fiscal balances, moving ahead with the introduction of VAT in Qatar and Kuwait and focusing on reducing the role of the state in economic management. UAE’s government related entities especially those in the construction sector deserve a careful review to ensure that their borrowing remains sustainable and to adjust to the new conditions. 2021-12-06T17:38:03Z 2021-12-06T17:38:03Z 2021-10 Report http://documents.worldbank.org/curated/undefined/403371637952191783/Gulf-Economic-Update-Seizing-the-Opportunity-for-a-Sustainable-Recovery http://hdl.handle.net/10986/36654 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling Middle East and North Africa Middle East Bahrain Oman Qatar Saudi Arabia United Arab Emirates
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	OIL PRICE PUBLIC SECTOR REFORM PUBLIC SECTOR WAGES DIVERSIFICATION STRUCTURAL REFORM ECONOMIC GROWTH ECONOMIC OUTLOOK GULF COOPERATION COUNCIL CORONAVIRUS COVID-19 COVID-19 VACCINATION PANDEMIC IMPACT FISCAL DEFICIT EXPORTS
spellingShingle	OIL PRICE PUBLIC SECTOR REFORM PUBLIC SECTOR WAGES DIVERSIFICATION STRUCTURAL REFORM ECONOMIC GROWTH ECONOMIC OUTLOOK GULF COOPERATION COUNCIL CORONAVIRUS COVID-19 COVID-19 VACCINATION PANDEMIC IMPACT FISCAL DEFICIT EXPORTS World Bank Gulf Economic Update, Fall 2021 : Seizing the Opportunity for a Sustainable Recovery
geographic_facet	Middle East and North Africa Middle East Bahrain Oman Qatar Saudi Arabia United Arab Emirates
description	The economic outlook for the Gulf Cooperation Council (GCC) economies appears far rosier now than it did even six months ago. Increased investment and consumption both public and private are contributing to growth while inflation remains subdued in most economies except for Saudi Arabia where it is currently at 5.5 percent and expected to fall sharply as the impact of last year’s Value-Added Tax (VAT) hike falls away. Despite this rosy picture, the authorities should continue to follow the path of prudent macroeconomic management consolidating their fiscal balances, moving ahead with the introduction of VAT in Qatar and Kuwait and focusing on reducing the role of the state in economic management. UAE’s government related entities especially those in the construction sector deserve a careful review to ensure that their borrowing remains sustainable and to adjust to the new conditions.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Gulf Economic Update, Fall 2021 : Seizing the Opportunity for a Sustainable Recovery
title_short	Gulf Economic Update, Fall 2021 : Seizing the Opportunity for a Sustainable Recovery
title_full	Gulf Economic Update, Fall 2021 : Seizing the Opportunity for a Sustainable Recovery
title_fullStr	Gulf Economic Update, Fall 2021 : Seizing the Opportunity for a Sustainable Recovery
title_full_unstemmed	Gulf Economic Update, Fall 2021 : Seizing the Opportunity for a Sustainable Recovery
title_sort	gulf economic update, fall 2021 : seizing the opportunity for a sustainable recovery
publisher	World Bank, Washington, DC
publishDate	2021
url	http://documents.worldbank.org/curated/undefined/403371637952191783/Gulf-Economic-Update-Seizing-the-Opportunity-for-a-Sustainable-Recovery http://hdl.handle.net/10986/36654
_version_	1764485693605675008

Gulf Economic Update, Fall 2021 : Seizing the Opportunity for a Sustainable Recovery

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