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FINANCIAL NEWS
GCC States to enhance economic position
24 May 2016
(MENAFN) GCC countries plan to make new economic strategy to end reliance on oil, while they need both revenue and economic diversification.
Additionally, in order to achieve this, it would need private sector collaboration and retention of human capital among the region to ensure sustainable growth.
Moreover, GCC started making financial reforms, like introducing taxes and cutting subsidies.
The region needs 6 to 7 percent economic increase in order to keep unemployment rates where they are currently.
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