Middle East Economic Survey
World Economy Proves Resilient But Oil Shock Remains A Threat
In June 2004, as oil prices hit 13-year highs of $42/B, Europes finance ministers met to discuss the impact on Eurozone growth. Economists around the globe worried about the potential impact on the worlds economic recovery. Since then prices have continued their upward march, reaching a peak of almost $70/B at the end of August 2005. But those who predicted an...