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From Oil Windfalls to Tax Revenues: How the GCC is Rewriting Its Economic Future
May 8, 2025by Dr Dawkins Brown
A New Chapter in Gulf Fiscal Policy For decades, the Gulf Cooperation Council (GCC)—comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—relied almost exclusively on oil and gas revenues to power their economies and fund expansive public welfare programs. Before 2015, oil and gas accounted for an average of 83% of total...
