The Future of Oil and Fiscal Sustainability in the GCC Region

The oil market is undergoing fundamental change. New technologies are increasing the supply of oil from old and new sources, while rising concerns over the environment are seeing the world gradually moving away from oil. This spells a significant challenge for oil-exporting countries, including thos...

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Bibliographic Details
Main Author: Mirzoev, Tokhir
Other Authors: Matsumoto, Akito, Pescatori, Andrea, Roos, Erik
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2020
Series:Departmental Papers
Subjects:
Oil
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a The Future of Oil and Fiscal Sustainability in the GCC Region  |c Tokhir Mirzoev, Ling Zhu, Yang Yang, Tian Zhang, Erik Roos, Andrea Pescatori, Akito Matsumoto 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2020 
300 |a 55 pages 
651 4 |a Saudi Arabia 
653 |a Fiscal stance 
653 |a Energy: Demand and Supply 
653 |a Wealth 
653 |a Environmental Conservation and Protection 
653 |a Economics 
653 |a Finance 
653 |a Oil 
653 |a Investments: Energy 
653 |a Fiscal Policy 
653 |a National accounts 
653 |a Fiscal sustainability 
653 |a Commodities 
653 |a Energy: General 
653 |a Oil consumption 
653 |a Macroeconomics 
653 |a Energy: Government Policy 
653 |a Oil prices 
653 |a Conservation of the environment 
653 |a Investments: Futures 
653 |a Saving 
653 |a Environment 
653 |a Fiscal consolidation 
653 |a Fiscal policy 
653 |a Petroleum industry and trade 
653 |a Energy conservation 
653 |a Consumption 
653 |a Prices 
653 |a Macroeconomics: Consumption 
653 |a Investment & securities 
700 1 |a Matsumoto, Akito 
700 1 |a Pescatori, Andrea 
700 1 |a Roos, Erik 
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520 |a The oil market is undergoing fundamental change. New technologies are increasing the supply of oil from old and new sources, while rising concerns over the environment are seeing the world gradually moving away from oil. This spells a significant challenge for oil-exporting countries, including those of the Gulf Cooperation Council (GCC) who account for a fifth of the world’s oil production. The GCC countries have recognized the need to reduce their reliance on oil and are all implementing reforms to diversify their economies as well as fiscal and external revenues. Nevertheless, as global oil demand is expected to peak in the next two decades, the associated fiscal imperative could be both larger and more urgent than implied by the GCC countries’ existing plans