Is COVID-19 catalyst for Gulf economic transformation?
CGTN
Will the COVID-19 pandemic provide the basis for economic transformation in the Arab Gulf countries? Or will it be a case of a missed opportunity? There are grounds to see either happening in several of the oil monarchies in the region, but it's perhaps more likely that it will promise more than it delivers.
Since the start of the year, the spread of the coronavirus prompted governments to follow similar measures to those in other countries. Workers were told to stay at home, salaries were cut and staffing levels frozen or reduced.
The economic shutdown was global, which meant that Gulf countries – already highly dependent on the production and export of hydrocarbons – faced less demand for their oil and gas.
