IMF: Hydrocarbon Dependence Leaves GCC Exposed
Though overall real economic growth for the Gulf Cooperation Council (GCC) countries is projected to rise yet again this year relative to 2011, heavy dependence on their respective hydrocarbon sectors has exposed them to “heightened vulnerabilities,” the International Monetary Fund (IMF) said on 29 October.
Output growth in the six GCC countries – Qatar, Saudi Arabia, Kuwait, Oman,...