The Omani government deserves credit for sound economic policymaking and reform progress, but the longer-term outlook for the economy remains uncertain.
The Raisi government’s political rhetoric of submission to economic hardship fails to provide a tangible economic solution to tackle Iran’s economic crisis.
Even though an increase in the VAT seems the most viable option, higher levels of public buy-in could be secured through greater transparency in fiscal policy.
The UAE’s push to reinvigorate its economy, in this manner and at this time, is linked to Expo 2020 Dubai, regional competition, and a broader realignment of Emirati foreign policy to better serve economic interests.
Emirati officials are rolling out an array of policies and initiatives intended to attract higher-skilled expatriates, but overlapping initiatives will likely heighten regional competition over foreign talent.
Mostly smaller budgets and conservative oil price assumptions signal the start of another challenging economic year for the Gulf region.
Regional policymakers must grapple with how the political and economic systems that they plan to sustain with today’s debt can meet tomorrow’s obligations.
As Gulf Arab policymakers continue to confront an ambiguous future, they will rely heavily on familiar economic policy measures and avoid straying from the status quo as long as possible.
Despite beginning as a regional policy, the VAT in the Gulf is becoming an increasingly country-focused initiative.
Through its careful examination of the forces shaping the evolution of Gulf societies and the new generation of emerging leaders, AGSIW facilitates a richer understanding of the role the countries in this key geostrategic region can be expected to play in the 21st century.Learn More