The Impact of oil revenues on Arab Gulf development

Cover of: The Impact of oil revenues on Arab Gulf development |

Published by Croom Helm, Westview Press in London, Boulder, Colo .

Written in English

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Places:

  • Persian Gulf Region

Subjects:

  • Petroleum industry and trade -- Social aspects -- Persian Gulf Region -- Congresses.,
  • Persian Gulf Region -- Economic policy -- Congresses.,
  • Persian Gulf Region -- Economic conditions -- Congresses.,
  • Persian Gulf Region -- Social conditions -- Congresses.

Edition Notes

Book details

Statementedited by M.S. El Azhary.
ContributionsEl Azhary, M. S., University of Exeter. Centre for Arab Gulf Studies., Petroleum Information Committee of the Arab Gulf States.
Classifications
LC ClassificationsHC415.3 .I46 1984
The Physical Object
Pagination203 p. :
Number of Pages203
ID Numbers
Open LibraryOL2583284M
ISBN 100813300967
LC Control Number85131930

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@article{osti_, title = {The impact of oil revenues on Arab Gulf development}, author = {El Azhary, M.S.}, abstractNote = {This book presents papers on Middle East oil policy. Topics considered include oil production policies in the Gulf States, oil planning, the philosophy of state development planning, prospects for Gulf economic coordination, the philosophy of infrastructural.

@article{osti_, title = {The impact of oil revenues on Arab Gulf development}, author = {El Azhary, M S}, abstractNote = {As the price of oil falls the pressures on the Arab Gulf States to speed up the diversification of their economies into non-oil sectors increases. This book examines this problem and other issues connected with the impact of oil revenues on development in the Gulf.

The Arab states face the prospect that their economic development will not last longer than the life of their hydrocarbon reserves. This book examines what options the Arab states have for countering this threat. It looks in detail at what opportunities exist for the Gulf states to accumulate. The Impact of Oil Revenues on Arab Gulf Development (London: Croom Helm, ).

Article in International Journal Middle East Studies 19(04) November with 7 Reads. SinceArab oil revenues have declined by about %. This has had an enormous impact on the Arab economies as well as on economic and political relations between the Arab world, the industrialised world and the Third world.

This book reviews how lower oil revenues have affected Arab countries and the international economy. The Impact of Oil Revenues on Arab Gulf Development (Routledge Library Be the first to write a review.

Oil revenues in the Gulf Emirates: patterns of allocation and impact on economic development / Ali Khalifa Al-Kuwari ; volume editor, Howard Bowen-Jones Bowker in association with the Centre for Middle Eastern and Islamic Studies of the University of Durham Epping, Essex Australian/Harvard Citation.

Kuwari, `Ali Khalifah. & Bowen-Jones. THE IMPACT OF OIL ON POLITICAL AND SOCIOECONOMIC CHANGE IN may be found in my Arab States of the Lower Gulf: People, Politics, Petroleum (Washington, D.C.: The Middle East Institute, ). discovery of oil, but the existence of oil revenues has helped considerably to accelerate this development.

For an idea of which economies rely most heavily on oil, this chart using World Bank data shows oil revenue as a share of GDP. Saudi Arabia comes third, after Kuwait and Libya, with roughly 45% GDP depending on oil. Purchase Oil Pollution and its Environmental Impact in the Arabian Gulf Region, Volume 3 - 1st Edition.

Print Book & E-Book. ISBNAs oil continues to be a major contributor to economic performance in the GCC, economic diversification is vital for the Gulf countries to ensure continued healthy growth. This has been showcased in Saudi Arabia and the UAE, which are driving sustained GDP growth through significant government investment in non-oil sectors.

In the UAE, the food and beverage sector is forecasted to grow by 36%. economic diversification in oil-exporting Arab countries.1,2,3 The paper is organized in two parts. The first part lays out the stylized facts on oil-exporting Arab countries as well as the motivation for economic diversification.

It underlines the heterogeneity in conditions across oil-exporting Arab. Oil revenues in the Middle East and north Africa, which produces more of the black stuff than any other region, fell from over $1trn in to $bn insays the IMF.

This year Arab. The kingdom reported a $9 billion budget deficit in the first three months of the year as oil revenues in the period fell by almost a quarter from a year earlier to $34 billion, bringing down.

effects on the real oil prices in response to geopolitical events for instance7. The Impact of Oil Shocks on Economic Growth in the MENA region.

Oil endowment facilitated unprecedented economic and social development in Saudi Arabia and the Gulf region. Since the s oil. The Economic Impact of Oil Prices by Rurik Krymm During the last three months ofthe tax-paid costs of typical grades of crude petroleum in the main producing areas of the world, around the Persian Gulf, were roughly quadrupled, rising for typical Iranian and Arabian Ugh t.

In its draft budget, Iraq had been counting on revenues from oil prices at $56 a barrel to fund badly needed development projects and the bloated public sector, costing nearly $45 billion in.

Countries in the Gulf Cooperation Council (GCC) face a dual shock — from both the COVID pandemic and the collapse in oil prices. Authorities should focus first on responding to the health emergency and the associated risk of economic depression and postpone fiscal consolidation linked to the persistent drop in oil prices until recovery from the pandemic is well underway.

Government revenues tell a similar story (Figure 3). Generally speaking, oil's share of government revenue in the oil exporters of the Gulf is on the order of percent.

In Kuwait it's about 80 percent. In Algeria and Yemen it's also a very high proportion of government revenue. While oil production may just be profitable at $40 a barrel, none of the Arab states except Qatar can balance their budgets at this level.

The worst affected, Algeria and Oman, need prices to rise. Remittances from the Gulf are an important source of foreign currency for Asian and other Middle East countries, with outflows of $bn and $36bn from the UAE and Saudi Arabia respectively in. Kuwait has a long way to go to reduce its heavy dependency on oil revenue Kuwait City: The Resident Coordinator of the United Nations in Kuwait, Tariq Al Sheikh, stated, during a virtual seminar.

This figure is four times bigger than projected Saudi oil revenues in based on an oil price of $ This is the punitive price Saudi Arabia could be paying for its rash decision to start a. Get this from a library. Oil revenues in the Gulf Emirates: patterns of allocation and impact on economic development.

[ʻAlī Khalīfah Kuwārī]. The IMF reckons the lower oil price knocked $ billion off Arab oil-exporting states’ government revenues in This year is looking worse.

Saudi Arabia revenue Public revenue, SAR billion Non-oil revenue, SAR billion Oil revenue Other non-oil revenues Taxes on goods and services Taxes on international trade and transactions Taxes on income, profits & capital gains Non-oil revenue % % % 5% Other taxes % 32% 68%.

4 Min Read DUBAI (Reuters) - Rising oil revenues are greatly improving the outlook for budget and trade balances among Gulf Arab countries but will do very little to boost economic growth. These forward-looking attempts at economic diversification are still reliant on oil revenues though, and break-even prices for government budgets vary widely across the Gulf region.

Forthe IMF listed breakeven prices for a barrel of oil as the following: $45 for Qatar, $54 for Kuwait, $91 for Bahrain, $83 for Saudi Arabia, and $70 for. The International Monetary Fund cut economic growth forecasts for the Arab Gulf states to per cent this year as the region continued to feel the effects of low oil prices and regional conflict.

Saudi Arabia tripled a value-added tax in July to 15 per cent to boost state coffers and offset the drop in oil revenues. This year revenues are estimated at billion riyals and billion.

The outlook for most of the rich Gulf Arab economies has dimmed for this year and next as oil prices have remained relatively low, according to a Reuters poll published on Wednesday that showed economists cutting their forecasts.

Heavy state spending and strong private consumption are cushioning the impact of a plunge in oil export revenues. Arab countries hold more proven oil reserves than any other region ( billion barrels), comprising more than 43 percent of the world’s total proven reserves.

With an average output of million barrels per day inthe Arab world produces nearly a third of world oil supply. The Nicaraguan Canal (Spanish: Canal de Nicaragua), formally the Nicaraguan Canal and Development Project (also referred to as the Nicaragua Grand Canal, or the Grand Interoceanic Canal) was a proposed shipping route through Nicaragua to connect the Caribbean Sea (and therefore the Atlantic Ocean) with the Pacific ists were concerned about the project's environmental impact, as.

Iraq - Iraq - Economy: Iraq’s economy was based almost exclusively on agriculture until the s, but after the revolution economic development was considerable.

By Iraq had the second largest economy in the Arab world, after Saudi Arabia, and the third largest in the Middle East and had developed a complex, centrally planned economy dominated by the state.

The combined impacts of COVID and the oil price collapse over the course of have resulted in the biggest economic contraction in the Middle East on record. Oil accounts for about 30% of GDP and 80% of government revenues in Gulf states on average. Much non-oil output is dependent on petroleum revenues through government spending on capital projects.

This chapter explores some of the effects of oil on development in greater depth, and examines the extent and nature of recent developments in the Gulf states. A Political Economy of the Middle East book.

A Political Economy of the Middle East. The Effects of Oil on Development and the Rise of the Gulf Cooperation Council. Sultan Haitham in mid-October said a 5 percent value-added tax would come into force in Aprilas part of efforts to diversify government revenues. All six Gulf Arab states agreed to.

Iran received $47 billion in oil export revenues, which accounts for about 50% of state revenues. Natural gas and oil consumption both account for about half of Iran’s domestic energy consumption.

With its heavy dependence on oil and gas revenues Iran continues to explore for new sources of natural gas and oil. This is Part I of a two-series blog where we make an attempt to understand the impact of migration on the Gulf countries. and Development rentier states” with oil revenues amounting to.

The government's decision to diversify from a trade-based but oil-reliant economy to one that is service- and tourism-oriented resulted in the property boom from to [citation needed] Construction on a large scale has turned Dubai into one of the fastest-growing cities in the property boom is largely driven by megaprojects such as the off-shore Palm Islands and The World.After the formation of the UAE, oil revenues, especially from Abu Dhabi and Dubayy, continued to fuel local development but increasingly became the main engine of growth for the national economy.

Oil revenues became significant in Abu Dhabi inin Dubayy inin Sharjah inand in Ras al Khaymah in Saudi Arabia tripled its value-added tax to 15% in July to offset the impact of lower oil revenue on state finances. buoyed by a % rise in the United Arab Emirates’ largest lender First.

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