GCC inflation is imported
Inflation rates in trading partners are the main driver of price pressures in Saudi Arabia and Kuwait, finds a new paper from the International Monetary Fund.
External factors are important as these Gulf economies depend on imports and foreign labour to meet domestic demand, says the paper.
The authors also note that the cost of the planned monetary union among several of the Gulf Cooperation Council (GCC) countries would be low as these economies are largely in sync.
To read the paper, click
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