In the context of the Arab Strategic Forum and in cooperation with the Emirates Policy Center, a strategic report was issued prior to the launch of the forum under the title: "The Economic and Social Outlook of the Arab Gulf states: Indicators and Expectations." The report revealed the success of six member states of the Gulf Cooperation Council, that went beyond the effects of the fall in oil prices in 2014.
According to the report, the region's economic outlook is relatively positive for the next half-decade, thus allowing for structural and financial reforms in the GCC countries. Rise in oil prices provided better prospects in the budgets’ balance of the GCC.
However, Governments are urged to expand the economic role of the private sector for the sake of enhancing the business environment, enabling private companies to speed up job creation, calling for reforms in the labor market in ways that encourage citizens to join the labor force and make jobs more attractive to citizens.
Source: (Al-Sharq Al-Awsat Newspaper, Edited)
