IMF Suggests GCC Maintain Reform Pace amidst Higher Energy Prices

published:06/12/2022 05:40 GMT

To respond to near-term shocks and firmly address medium-and long-term challenges, the IMF policy paper recommended implementing a comprehensive package of policies that includes using additional revenues from higher oil prices to rebuild buffers and strengthen policy space. The GCC economies, whose growth is slated to more than double to 6.5% in 2022 on higher energy prices, should maintain momentum in reforms, irrespective of the level of hydrocarbon prices, according to a recent policy...More