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
Oman's state-owned Duqm refinery closes $4.6 billion in financing from domestic and international sources.

Abu Dhabi Stimulus Plan [Infographic]

Abu Dhabi Stimulus Plan The government of Abu Dhabi announced a $13.6 billion stimulus package aimed at supporting economic development over three years. Crown Prince Mohammed bin Zayed al-Nahyan instructed officials to draw up detailed plans for allocating the funds over the next 90 days. Abu Dhabi's economy has stagnated in recent years as a result of lower oil prices, as well as austerity measures taken by the government to curb the rise in deficits. The new stimulus package includes 10 initiatives designed to streamline bureaucratic regulations and facilitate the ease of doing business in the UAE.

The Bridge: Competing Megaprojects in Kuwait and Saudi Arabia.

Kuwait Boubyan Island
by Robert Mogielnicki During the March 25 Kuwait Investment Forum, Kuwaiti government officials reaffirmed the country’s commitment to develop the Silk City (Madinat al-Harir) megaproject and establish an integrated economic zone on five uninhabited Kuwaiti islands.

Market Watch: U.S.-Saudi Economic Ties: Why Saudi Arabia Matters

Donald Trump and Mohammed bin Salman
Saudi Arabia and the United States are linked by investment ties, energy markets, and a shared interest in the stability of the global economy.

Market Watch: Payment Delayed: The Economic Risk of Gulf Contracting Practices

Dubai Construction by Karen E. Young Like the Bin Laden Group and Saudi Oger, Carillion has proved that the construction of megaprojects in the Gulf, however lucrative and central to state-led development plans, is full of pitfalls.

Issue Paper: Private Financing, Ownership, and Management of Gulf Infrastructure

Prince Mohammad Bin Abdulaziz International Airport in Medina, Saudi Arabia.

by Justin Alexander
In response to fiscal pressures and concerns about the efficiency of project and service implementation, Gulf Arab states are increasingly looking to the private sector to finance and manage infrastructure projects.  

Issue Paper: Prioritizing Renewable Energy in a Time of Fiscal Austerity

Surging population growth, large-scale infrastructure investment, and economic development progress have led to increased energy demand in the Gulf Cooperation Council states. Since late 2014, the new normal of low oil prices has necessitated fiscal constraints and at the same time prompted greater interest in renewable energy sources.

The Bridge: Abu Dhabi Share-Swap Deal with BP Forges New Contract Model

by Diane Munro Abu Dhabi capped a year of unprecedented change at state oil company Abu Dhabi National Oil Com­pany (ADNOC) with a landmark $2.2 billion share-swap with legacy partner BP. The unique model for a joint venture gives Abu Dhabi a 2 percent stake in BP in exchange for a 10 percent share in the country’s main onshore oil concession.