Gulf nations improve economic resilience
The Secretary-General of the Gulf Cooperation Council (GCC), Jassim Mohammed Al-Budaiwi, affirmed that the Gulf countries continue to enhance their economic capabilities through sustainability and fiscal efficiency, developing risk management tools, improving the efficiency of public spending, and diversifying sources of revenue. This statement was made during the meeting of the Council’s Financial and Economic Committee, where he pointed out that the GDP of the member states amounts to approximately $2.4 trillion, with non-oil contributions accounting for about 79% of the total. He also emphasized that policies and economic integration have enabled the region to effectively manage crises, while there remains a need to accelerate the implementation of projects related to the Customs Union and the Common Market to strengthen financial stability and economic growth.
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