The COVID-19 pandemic and the decline in global oil demand and prices dealt the GCC countries a health crisis and a commodity market shock. The GCC’s aggregate GDP contracted by 4.8 percent in 2020 from 2019, with the growth outturns ranging from -3.7 in Qatar to an estimated -6.3 percent in Oman. The authorities responded to the pandemic with stringent health measures which helped contain the spread of the disease and saved lives but hurt economic...
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DETAILS
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2021/08/01
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Report
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162376
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1
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2021/08/04
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Disclosed
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Gulf Economic Update : COVID-19 Pandemic and the Road to Diversification
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barrels per day
Citation
Ollero,Antonio M.; Alhmoud,Khaled Bassam Rasheed; De Pinies Bianchi,Jaime Rafael.
Gulf Economic Update : COVID-19 Pandemic and the Road to Diversification (Vol. 1 of 2) (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/748461627924058675