Gulf governments to spend $200 billion and shift focus to private sector
Gulf, Economics, 3/12/1999

Gulf sources expected that the amount of spending by the governments in the Gulf during the coming ten years will amount to nearly $200 billion, which equals what was expended in the last quarter of this century.

The sources also said that the deterioration of petroleum prices made the states of the region more committed to the policy of varying the national income to protect the national economies from international financial and economic variables.

They added that the coming period will witnesses wide participation from the private sector in financing, building, running and possessing basic infrastructure projects, after continuing the privatization of utilities owned by public sector in the Gulf states.

Previous Stories:
  Statement by Arab Gulf oil ministers   (3/11/1999)
  Urgent meeting for Gulf ministers of petroleum tomorrow   (3/9/1999)
  Morocco offered Gulf states projects worth $275 million   (2/24/1999)

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