Economic Prospects and Policy Challenges for the GCC Countries - 2021

International Monetary Fund

No 2021/072, IMF Policy Papers from International Monetary Fund

Abstract: GCC policymakers moved quickly to mitigate the health and economic impacts of twin COVID-19 and oil price shocks. Infection rates have declined across the GCC to well below previous peaks, though countries have experienced successive waves of the virus, and economic recoveries have begun to take hold. Nevertheless, GCC policymakers must navigate a challenging and uncertain landscape. The pandemic continues to cloud the global outlook as countries are in different phases of recovery, with varied growth prospects and policy space

Keywords: oil market development; oil growth; oil balance; climate change impact; GCC economy; Oil prices; COVID-19; Oil consumption; Climate change; Global; Fiscal stance (search for similar items in EconPapers)
Pages: 39
Date: 2021-12-15
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