Browsing: Social reforms

Oil-exporting nations across the Middle East and North Africa (MENA) are resolutely pursuing diversification strategies to confront economic uncertainties. The World Bank, in its assessment, highlights the ongoing commitment to diversification within the Gulf Cooperation Council (GCC) countries. These nations, with varying progress in diversification, are actively steering their economies away from dependency on hydrocarbon revenues. The GCC, comprising six key members, including major oil exporters like Saudi Arabia and the UAE, is dedicated to a transformation agenda.

S&P Global Ratings anticipates that Dubai’s government debt burden relative to its GDP will decrease…