Mideast Oil Exporters Face the Crisis Head On

2017-04-15T14:51:05-04:00October 11, 2009|

By Masood Ahmed Middle East oil exporters are squarely facing the worst financial crisis since the Great Depression head on. Despite the sharp drop in oil prices last year, the oil exporters rightly decided to maintain spending by drawing upon reserves amassed during the boom years. High public spending and exceptional anticrisis financial measures have not only cushioned oil exporters’ own economies but are also contributing to sustaining global demand. They have also helped the interlinked economies of neighboring oil importers.  Facing this boom-bust cycle  Between 2004 and 2008, Middle East oil-exporting countries grew by about […]

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