The prospects for the economy of the Arabian Gulf "unclear" landmarks in 2016

Said CFA Institute, said on Sunday that the economic prospects of the GCC countries during 2016, does not seem clear-cut with a continued decline in global oil prices, since a year and a half.

In the survey conducted by the Institute of Economic and investment trends, and challenges facing the Gulf Cooperation Council (GCC), predicted 81% of the respondents, the economies of these countries affected by the decline in world oil prices.

  Although the case of doubt and uncertainty for the future of the economies of the Arab Gulf states, will dominate the possibility of the imposition of value added tax on sales, and the fate of human resources on the economic landscape, in an attempt to maximize financial returns, according to the institute.

The director of the Middle East and Central Asia Department of the IMF, Masood Ahmed, the Fund meetings mid-October / last October, said that the decline in crude oil prices, reduced the profits of oil-exporting countries in the Middle East and North Africa, estimated at US $ 360 billion during the current year, compared with 2014 profits.

  The majority of the participants in the questionnaire, expressed concern about the high cost of doing business in the Gulf States, in light of the possibility of the imposition of value added tax on sales, and the ability of companies to attract highly qualified staff, and retention and the cost of using them.

According to the results of the questionnaire, which was attended by 218 members of the CFA Institute, the Gulf Cooperation Council (GCC), I think 61% of the participants, that the possibility of the imposition of value added tax on sales, in the GCC countries will raise the cost of doing business in which the companies adhere to them.

  And it saw 17% of respondents, that would impose the tax, discouraged foreign direct investment in the GCC countries.

What was seen as 81% that lower oil prices will be a major factor that negatively affects the economies of the GCC countries in 2016, while the expected 10% to form regional conflicts, the second most significant factors affecting these economies, followed by a slowdown in the growth of the Chinese economy, according to 6% of the participants .

  The questionnaire showed that 48% of respondents, believe that the real estate, hospitality and construction sectors, will top the economic activity in the GCC countries during the next two years, followed by industrial products (12%) and the sector of transport and logistics (12%).

He expected more than half of respondents (64%), the continued growth of the Islamic finance industry activity in the area.

  Institute CFA "CFAO", is the global association for investment professionals that sets professional standards of excellence, and the ultimate goal of the Institute in creating the environment that takes the interests of investors first, and job markets at its best, and to achieve the growth of economies, featuring Institute more than 122 thousand in 144 member countries and territories.