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.

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