Time for renewed action on GCC economic union | GulfNews.com:
"As I have noted in previous columns, the Gulf economies have not significantly been affected by the steep decline in oil prices. So much so, even a full year after oil went downhill, the economies are still achieving good growth numbers.
And while the decline has affected general budgets, it has not impinged on domestic liquidity, limited as it is to some non-core expenditure. Actually, the reduction in state budgets comes as a positive move to reduce the load on them through removing some unnecessary burdens.
As for political events and the instability in the region, the Gulf countries have dealt with great wisdom. Despite attempts to disturb security in some Gulf states, these have failed due to security measures and thanks to the awareness of citizens, who are keen on their leaders, abide by the law and lay great store on their countries’ stability."
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