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Global Consumer Confidence for the Gulf Region Q1 2021
April 15, 2021 | Report
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.
AUTHOR
Hiba Itani
Former Senior Economist
The Conference Board Gulf Center for Economics and Business Research
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