Topic: EconomicsCurrency

Last updated: April 27, 2019

The oil in Bahrain decreased to 10% the GDP in 2015, and a general fiscal. Bahrain losing an estimated 12.8% of GDP (from 3.4% in 2014) they help the maintain economic growth at 29% but they bought reserves down to a low level at 2.6 months of imports and increased public debt to 62% of GDP .

The economy in Kuwait growth to 3% in 2016 from 18% the previous you. Kuwait is supported by higher oil production and implementation of the development plan In conclusion, we talked about the GCC countries as we mentioned them earlier Kuwait, Saudi Arabia, Bahrain, Oman, Qatar, and United Arab Emiratis and also we talked about the purpose of this council and we mentioned for every each one of them, their population, economy, currency, and sources of income, perspective area, and their resources. Also we have collected and presented data on graph the world oil price history, and the total production for oil in all GCC countries. All of these countries are depending on oil but some of them have another income. Historical events1- In 1986 the oil price collapsed because of the decision that was made by Saudi Arabia and some neighbors to raise their share from the oil market.

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Also after raising their share they did not suffer great revenues like other producers because of the fact that their price declines were stabilized by their output increase.2- On Aug. 2, 1990, Saddam Hussein propelled the Iraqi attack of Kuwait, beginning the Gulf War. This prompted bring down oil generation, causing a spike in raw petroleum costs. The cost of oil ascended from $17 per barrel to $36 per barrel.

After the Gulf War, unrefined petroleum costs consistently declined, achieving their most minimal level since 1973 of every 1994.


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