CLEAN : Gulf should adjust to new oil price reality: IMF

The video discusses the economic adjustments required due to lower oil prices. It highlights the need for countries to balance spending and make strategic plans to ensure fiscal stability. GCC countries are in a better position due to their financial savings during high oil prices, but they still face challenges. The importance of setting medium-term plans to boost investor confidence is emphasized.

What financial achievement was made over the last five years according to the video?

• An increase in oil production

• A decrease in global deficit

• Savings of $650 billion

• A reduction in oil prices

What is the expected trend for oil prices by 2020?

• Oil prices will rise above $100

• Oil prices will drop below $30

• Oil prices will remain stable at $80

• Oil prices will be in the low and mid 60s

Why is it important for countries to set medium-term plans?

• To eliminate all fiscal deficits

• To reduce global warming

• To give confidence to investors and businesses

• To increase oil production

How have GCC countries prepared for the current low oil price shock?

• By increasing oil exports

• By building financial savings during high oil price periods

• By reducing their workforce

• By investing in renewable energy

What advantage do GCC countries have in facing the current economic challenges?

• They have a large population

• They have reduced oil production

• They have diversified their economies

• They have built financial savings