1. Gulf Economic Outlook 2020 - Q1 Update
- Author:
- Hiba Itani
- Publication Date:
- 05-2020
- Content Type:
- Special Report
- Institution:
- The Conference Board
- Abstract:
- The Gulf countries face a somber outlook, with the GDP of the region expected to contract by 5.9% in 2020 compared to 2019. The Gulf countries whose economies remain highly dependent on hydrocarbon are ahead of “perfect storm” like scenario: a humanitarian crisis, that morphed into a global demand shock and pushed oil prices into a free-fall. A historical oil production cut agreement barely managed to improve prices.
- Topic:
- Oil, Natural Resources, GDP, and Economy
- Political Geography:
- Middle East and Gulf Nations