Middle East Economic Survey

VOL. XLVIII

No 29

18-July-2005

G8 Identifies High Oil Prices As Economic Threat

The recent G8 meeting identified high and volatile oil prices as an issue of joint concern in its chairmans report issued on 8 July following the conclusion of the summit in Scotland. The statement said the leaders expected global economic growth to remain robust but highlighted the threat to economic growth, particularly in developing countries, represented by high oil prices. Higher and...