Gulf economies demonstrate strong fiscal resilience during current crises, says GCC Secretary-General

By the Editorial Team · Sunday, October 4, 2026

The GCC member states have shown strong economic resilience amid global challenges, maintaining growth through prudent policies and robust financial systems. This stability sets the stage for accelerated regional integration, structural reforms, and closer cooperation with international partners to support diversification and long-term competitiveness.

The Gulf Cooperation Council (GCC) member states have demonstrated notable fiscal and macroeconomic resilience amid ongoing global uncertainties, according to GCC Secretary-General Jasem Mohamed Albudaiwi. Speaking at a joint meeting with the International Monetary Fund (IMF) Managing Director on Thursday, Albudaiwi highlighted the region's ability to sustain growth despite challenges posed by geopolitical tensions and disruptions impacting energy production, shipping, logistics, and trade.

Albudaiwi noted that the International Monetary Fund praised the GCC’s economic and financial measures, emphasizing the region’s capacity to maintain momentum in a highly complex global economic and geopolitical environment. He attributed this resilience to years of prudent economic policies, robust financial buffers, resilient banking systems, and strategic investments in infrastructure, connectivity, and economic diversification.

The secretary-general stressed the importance of safeguarding macroeconomic and fiscal stability while ensuring that policies remain agile and responsive to rapidly evolving conditions. He cautioned that efforts should go beyond addressing immediate impacts of geopolitical shocks, underscoring the need to embed resilience as a core element of the GCC’s economic framework.

In this context, Albudaiwi called for accelerating regional economic integration by facilitating the cross-border flow of goods, services, capital, and people. Strengthening regional supply chains and developing resilient commercial and logistics corridors were also highlighted as key priorities.

Furthermore, he emphasized the urgency of advancing structural reforms aimed at empowering the private sector, enhancing competitiveness, and fostering technological innovation and digital transformation. Such measures are seen as critical to accelerating the GCC’s shift toward diversified, knowledge-based economies.

Albudaiwi also urged a reinforcement of policy frameworks and deeper coordination among GCC member states to complete remaining integration milestones. Strengthening partnerships with international institutions, particularly the IMF, was identified as crucial to supporting the region’s economic objectives in a volatile global setting.

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