Hi! Thanks for the question.
I have found the following references to the possible economic fallout
on GCC countries on account of the war in Iraq.
“A U.S.-led offensive against Iraq and subsequent change in its regime
will likely trigger massive reforms in neighbouring GCC countries as
they will strive to offset possible economic damage caused by a sharp
drop in their oil income, experts said yesterday.’
"’We are talking about strategic effects of a change in the Iraqi
regime on the GCC economies... the U.S. has already made clear it will
invest in rehabilitating Iraq's oil sector and this means there will
be an additional 5-6 million barrels in the oil market in a few
years,’ said Nahed Daher, a senior economist at the Saudi National
Commercial Bank.”
“’You can imagine the impact of such extra supplies.... our
expectations are that the GCC's national income would sharply decline
and could be slashed by half... this will have a strong adverse
influence on their economies' growth rates, fiscal balance and
employment...their only alternative is to hasten reforms to diversify
their economies and that is what we expect them to do in the medium
and short terms,’ she told Gulf News by telephone.”
“Change in Iraq may lead to reforms in Gulf”
http://www.tayyar.org/files/actualite/GulfNews030203_reforms.htm
“Lower oil prices will depress Gulf economies, rising internal and
external imbalances. GDP already fails to match population growth in
most of the Gulf States, with Saudi Arabia most affected.”
“The UAE and Bahrain are better off because they have built up viable
non-oil sectors. However, they too, will suffer from an invasion of
Iraq. Both of these countries, along with Egypt, Lebanon and Oman have
over the last decade been developing a profitable and growing tourism
sector.”
“The GCC stock markets performed well in the first six months of this
year but have since fallen back. As long as uncertainty persists in
the region, Arab stock markets are likely to remain unsettled. “
“The Cost of American Invasion on Iraq”
http://www.alshindagah.com/novdec2002/cost.html
You might also be interested in reading this particular article, which
discusses the 2003 economic outlook for countries in the Gulf along
with the war on Iraq factor.
“2003 economic outlook in the Gulf “
http://www.dailystar.com.lb/opinion/15_01_03_b.htm
Search terms used:
GCC war economic fallout
I hope these links would help you in your research. Before rating this
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Easterangel-ga
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