CLEAN : IMF urges Gulf states to adapt to lower oil prices

The video discusses the continuation of a low oil price environment in 2016, leading to reduced revenues from oil exports and affecting economic activities. It highlights the expected drop in growth rates in GCC countries and the need for spending cuts and revenue measures. The importance of long-term measures, institutional capacity building, and setting ambitious objectives for economic transformation is emphasized.

What factors are contributing to the low oil price environment mentioned in the text?

How is the growth rate in the GCC expected to change compared to the previous year?

What measures do the GCC countries need to implement to address their economic challenges?

Why is building institutional capacity important for the GCC countries?

What is the significance of the level of ambition in responding to economic challenges?