Arab Today, arab today kuwait urges gulf reforms
Last Updated : GMT 20:23:11
Arab Today, arab today
Arab Today, arab today

As oil prices fall

Kuwait urges Gulf reforms

Arab Today, arab today

Arab Today, arab today Kuwait urges Gulf reforms

Kuwait has 3.2m bpd production capacity
Kuwait City - Arab Today

Kuwait's oil minister on Saturday called for economic reforms by energy-dependent Gulf states to cope with a drop in oil prices that has hurt their public finances.
Anas al-Saleh urged steps to tackle rising public spending, mainly on wages and subsidies, as well as efforts to boost the role of the private sector.
"Comprehensive economic reforms, including reforming distortions in the public finances, should be enforced," he said at a meeting of regional finance ministers and central bank chiefs.
Saleh said the Gulf states must diversify their economies and "reduce dependence on oil".
"Implementing these policies has become inevitable," Saleh told the meeting, which International Monetary Fund managing director Christine Lagarde was also attending.
Forecasts indicate a healthy economic growth for the six nations of the Gulf Cooperation Council (GCC) averaging 4.5 percent in 2014-2015, Saleh said.
"But these forecasts should be treated with caution in light of fast-paced regional and international developments, particularly the drop in oil prices which has started to impact the public finances of GCC states," the Kuwaiti minister added.
The GCC groups Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, which together pump 17 million barrels of crude oil per day and depend on oil for about 90 percent of public revenues.
Oil prices have slumped by about 25 percent since June because of a production glut, weaker demand and a gloomy world economic outlook.
Benefiting from high oil prices for more than a decade, the GCC states have built fiscal reserves estimated at $2.45 trillion by the International Institute of Finance.
Source: AFP

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today kuwait urges gulf reforms Arab Today, arab today kuwait urges gulf reforms

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Turkey says ends its military operation

GMT 07:53 2017 Thursday ,30 March

Turkey says ends its military operation

GMT 06:33 2017 Friday ,24 March

MP reveals reasons behind approval of IMF loan

GMT 06:23 2017 Thursday ,23 March

Diplomat denies any formal decisions

GMT 12:21 2017 Wednesday ,22 March

Economic expert call Tunisian government

GMT 19:15 2017 Tuesday ,21 March

EFB ranks first in world food banks

GMT 14:47 2017 Tuesday ,21 March

Minister stresses his country's aspiration

GMT 20:24 2017 Monday ,20 March

MP reveals details of British delegation's visit

GMT 16:14 2017 Saturday ,18 March

Egyptian professor calls to get rid of corruption
View News in Arabic - Business: أخبار الاقتصاد
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today 'Underwater wasteland' worries

GMT 10:32 2017 Thursday ,30 March

'Underwater wasteland' worries
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Singer Rowida Attiya will issue a new song

GMT 07:38 2017 Tuesday ,28 March

Singer Rowida Attiya will issue a new song
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 07:50 2017 Thursday ,30 March

Breaking trans barriers one barbell

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday