Economics
Middle East’s $2 Trillion Wealth Could Be Gone by 2034, IMF Says
- IMF tells Gulf states to speed reform or risk getting poorer
- Improved efficiency, carbon tax could see oil use peak in 2030
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The Arab monarchies of the Persian Gulf face a budget reckoning and risk squandering their $2 trillion in financial wealth within 15 years as oil demand nears peak levels, according to the International Monetary Fund.