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.
A unique pattern of provincial or regional consortiums from China are deeply engaged in marquee Belt and Road Initiative projects that are shaping the future of China’s power in the Gulf.
Despite a large appetite among Gulf Arab states for Chinese investment and trade, the UAE has emerged as China’s primary economic partner in the region.
As fiscal constraints increase, tensions in the Gulf rise, and uncertainties surrounding political transition loom, Oman’s role in the Gulf Arab region could come under pressure.Learn More
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