Year in review: Why economic reform was the Middle East’s business story of the year | The National

Year in review: Why economic reform was the Middle East’s business story of the year | The National:

"GCC economies are at crossroads. The slump in oil prices since 2014 has affected the GCC countries in many ways. Unlike previous episodes of price collapse, the latest one is marred with ambiguity about its recovery and the demand dynamics going forward.

A new normal in oil prices is being formulated as we speak.

Countries have been compelled to accelerate structural reforms to diversify their economies away from hydrocarbons, boost the role of the private sector, and create jobs for their rapidly growing labour forces."



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