Dubai – Mubasher: GCC economies’ outlook is very positive, according to a report released by investment bank UBS's wealth management unit.
Oil prices recovered since June, but are expected to break the trend in 2018, UBS added.
The report stressed the necessity to make further reforms in a bid to diversify GCC economies and attract foreign investments.
Since the slippage of global oil prices in 2014, most of GCC countries have adopted unprecedented measures to slash government subsidies, which included fuel, electricity, and water subsidies, UBS concluded.
