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FINANCIAL NEWS
GCC stresses on ability to adapt with oil prices
12 May 2016
(MENAFN) Member states of the Gulf Cooperation Council, GCC, seems to be capable of coping with the low oil price by creating economic policies that would lessen dependency on petroleum as the main energy resource.
Through sound economic policies, Gulf nations can overcome deficits to their budgets, not to mention that the upcoming years require Gulf nations to change their production levels to cope with the new status quo.
Additionally, regarding the GCC’s efforts to improve and develop the job market across the whole region, several plans were set to improve the output and performances of GCC employees and workers.
“The human resources aspect and means to develop it will be a crucial component in any economic policy aimed at a better future,” stated a top economist who is well engaged with the matter.
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