Gulf Economic Barometer

The Gulf Economic Barometer monitors initiatives taken by Gulf states as they seek fiscal, monetary, and labor policy changes to meet the challenge of reduced state revenue from natural resources. The key trend is a major shift in the way the GCC countries have been spending on public sector wages, infrastructure, and social services over the last decade. The GEB documents the policy changes as they are announced and/or implemented by country and by sector and is updated regularly as data becomes available. The information here is neither official nor exhaustive.

Present

Market Watch: Oman’s Fiscal Management Problem

by Karen E. Young For Oman, balancing domestic pressures against necessary economic reforms is proving difficult.

Market Watch: Reformers are Holding Ground: Saudi Arabia’s New Fiscal Policy

by Karen E. Young The Saudi budget for 2017 demonstrates that fiscal reform works; at least, it shows that with a reduction in spending will come a decline in deficit.

Market Watch: Counting the Cost – Military Expenditure in the GCC

As budget deficits become the new norm for oil-exporting Arab Gulf states, there is no evidence that they are cutting down on defense spending.