How Long Can Oil Calm Troubled Waters?

Townsend, Mark
December 2014
Global Finance;Dec2014, Vol. 28 Issue 11, p24
Trade Publication
The article offers information on the impact of the drop in oil prices in Saudi Arabia to public spending in the rentier states of the Persian Gulf in 2014. It mentions that the slide in prices has laid bare the six-nation Gulf Cooperation Council's (GCC)economic policies and might result to cuts in public spending. It states that the GCC governments ramped up expenditure to soothe dissatisfied citizens and drive growth in a reaction to the Arab Spring.


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