Experts meet in Oman to discuss GCC economies

Gulf Arab committees charged with studying ways to address rising inflation and unemployment are meeting in Oman on Tuesday, and would take recommendations next month to a body advising Gulf rulers, the Oman News Agency (ONA) said.

"The two committees will tackle issues related to jobseekers in the Gulf countries and ways of finding solutions for them," ONA reported yesterday.

However, t did not say who sat on the committees, representing the six Gulf Co-operation Council (GCC) countries.

"In addition, they are studying the issue of inflation and the increase in prices and their impact on nationals of the council countries," ONA said.

"The two committees will take recommendations on the two topics to the consultative panel of the Supreme Council at its meeting in June,"

ONA added.

Inflation is accelerating across the world's biggest oil-exporting region, and could top at least nine per cent, on average, in Saudi Arabia and four other oil producers, a Reuters poll showed this week.

Saudi Arabia, the UAE, Qatar, Bahrain and Kuwait are planning to set up a single currency by as early as 2010.
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