December 25, 2024 The state of Qatar witnessed a remarkable growth in population size and economic development in the past 20 years. Between the years of 2004 and 2024, Qatar registered an estimated 325% population growth leading to higher resource consumption, further resulting in higher demand for natural resources. On the one hand, the expansion in Qatar’s population caused a challenge for the provision and distribution of Qatar’s water and energy resources. On the other hand, Qatar’s environmental and climate structure plays a critical role in intensifying securing the resources needed to meet its growth and development.
November 6, 2024 The GCC hydrocarbons are once again caught in the web of political tensions. However, it is premature to anticipate that oil prices will reach the psychological threshold of $100 per barrel (pb) as it was in the early days of Spring 2022 or even go above $94pb as it was in the first days after the HAMAS attack on Israel in October 2023. On the contrary, the security of oil supplies by the GCC member states can be one of those factors that will prevent both Israel and Iran from going into a full-fledged conflict.
November 6, 2024 Saudi Arabia's 2025 budget indicates a confident move towards expansionary fiscal policy despite projecting a 2.3% GDP deficit. The government believes in strategic spending to fuel robust economic growth, supported by strong reserves through PIF and Aramco’s external assets as buffers against adverse economic shocks such as Oil price fluctuations, global economic slowdown, and geopolitical tensions, but this approach raises essential questions about fiscal sustainability surrounded by a complex global financial landscape. The budget's underlying assumptions are optimistic: non-oil solid sector growth, declining unemployment, and tangible improvements in quality of life. The government plans to increase spending in critical areas to reinforce these trends significantly. Firstly, diversification efforts will focus on supporting promising sectors like tourism, entertainment, logistics, and industry, with the aim of reducing the Kingdom's long-standing dependence on oil revenue. Secondly, the budget prioritizes empowering the private sector through initiatives that foster a favorable investment climate and stimulate job creation.