CLEAN : Spending cuts a must in Gulf despite oil recovery: IMF

The video discusses the impact of fluctuating oil prices on the financial outlook of GCC countries, emphasizing the need for these countries to adjust to a reality of lower income levels compared to pre-2014. It highlights measures taken by countries like Saudi Arabia and Oman to balance their budgets, such as controlling wage bills and freezing public sector employment. The video also stresses the importance of finding alternative revenue sources beyond oil, with VAT being one potential solution.

What are the expected changes in the financial numbers for the GCC this year?

What challenges do GCC countries face despite improvements in their fiscal balances?

What measures have been taken by Saudi Arabia to address its fiscal challenges?

How are GCC countries planning to balance their budgets in the coming years?

What is the significance of finding revenue sources outside of oil for GCC countries?