As the world charts its recovery from COVID-19’s impact, businesses and trade around the world begin to hit normalcy, reviving the global demand for oil and consequently the global oil prices.
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GCC economies were hit hard by the pandemic last year with the cumulative GDP of the region falling by 5% in 2020 over that of 2019.
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The UAEs announcement of 100 per cent foreign ownership across the board effective June 1, is touted as game changing and a master stroke.
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What is IMF’s current outlook for GCC countries’ economy?How does it compare with IMF’s April forecast?
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