Global Consumer Confidence for the Gulf Region Q1 2021
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Publication Date:
April 15, 2021
With expectations of a mellow recovery in global oil demand and prices in 2021, the Gulf economies will have to rely on a rebound in the non-oil sector. This will not be possible without significant support from governments that have already been facing budget deficits since the oil price collapse in 2014. That said, the COVID-19 pandemic led to an acceleration of job nationalization programs, and subsidy and tax reforms across the region, with direct repercussions on consumers, with expats being more negatively affected than nationals.
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