Progress with discipline: fiscal reforms pave the way to a bright future

Article Abstract:

The member states of the Gulf Cooperation Council (GCC) face a bright future thanks in part to their present sensible responses to declining oil revenues and other fiscal challenges. Trade links to Asia are currently relatively weak, with Japan and Asean members together accounting for 15% of all imports and 25% of all exports. All GCC members are establishing fiscal reforms and most are promoting privatization and trade liberalization. The combined fiscal deficit is stable and sustainable at $16.8 billion.

International trade, International relations, Asia, Gulf Cooperation Council

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Boom times for airlines

Article Abstract:

Passenger traffic among airlines serving the Persian Gulf region went up by an estimated 15% in 1992. The region's airlines are acquiring new aircraft to service their growing number of passengers. The number of aircraft of the airlines in the region are expected to increase to 530 by 2010, up from its present level of some 250 aircraft. Airlines are reporting increased profits because of the increased passenger traffic. Airlines are also seeking new routes to add further to their profitability.

Services, Airlines, Transportation policy

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Dominant player in Gulf trading

Article Abstract:

Dubai, United Arab Emirates, is the leading trading center in the Persian Gulf. The country's economy is currently enjoying an economic boom. Its Gross Domestic Product increased by 18% in 1991, up from the 8.6% growth rate in 1990. The number of foreign companies which have invested in the country is expected to reach 500 by the end of 1992, up from 276 in 1990 and 360 in 1991. The large number of building activity in the country is another indication of Dubai's booming economy.

Foreign investments, Economic aspects, United Arab Emirates, Dubai, United Arab Emirates (Emirate), Dubai, United Arab Emirates

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