Gulf Arab committees meet on inflation and unemployment

Gulf Arab committees charged with studying ways to address 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. It did not say who sat on the committees, representing the six Gulf Cooperation Council (GCC) countries.

"In addition, they are studying to 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 said.

Inflation is accelerating across the world's biggest oil-exporting region, and could top at least 9 per cent, on average, in Saudi Arabia and four other oil producers, a Reuters poll showed this week.

Saudi Arabia, the United Arab Emirates, Qatar, Bahrain and Kuwait are planning to set up a single currency by as early as 2010. (Reuters)

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