{"id":336659,"date":"2020-02-10T11:21:46","date_gmt":"2020-02-10T05:51:46","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=336659"},"modified":"2020-02-10T13:38:15","modified_gmt":"2020-02-10T08:08:15","slug":"middle-easts-2-trillion-wealth-could-just-vanish-in-15-years","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/middle-easts-2-trillion-wealth-could-just-vanish-in-15-years\/","title":{"rendered":"Middle East\u2019s $2 trillion wealth could just vanish in 15 years"},"content":{"rendered":"<p>The Arab monarchies of the Persian Gulf face a budget reckoning and risk squandering their $2 trillion in financial wealth within 15 years as oilNSE -3.50 % demand nears peak levels, according to the IMF.<\/p>\n<p>Global oil demand may start falling sooner than expected, putting a strain on the finances of the six-member Gulf Cooperation Council, which accounts for a fifth of the world\u2019s crude production, the IMF said in a report Thursday.<\/p>\n<p>Without decisive economic reforms, the richest Middle Eastern states could exhaust their net financial wealth by 2034 as the region becomes a net debtor, the fund projects. Within another decade, their total non-oil wealth would also be exhausted, the IMF said in the report prepared by a team of its Middle East and Central Asia specialists as well as the research department.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Arab monarchies of the Persian Gulf face a budget reckoning and risk squandering their $2 trillion in financial wealth within 15 years as oilNSE -3.50 % demand nears peak levels, according to the IMF. Global oil demand may start falling sooner than expected, putting a strain on the finances of the six-member Gulf Cooperation Council, which accounts for a fifth of the world\u2019s crude production, the IMF said in a report Thursday. Without decisive economic reforms, the richest Middle Eastern states could exhaust their net financial wealth by 2034 as the region becomes a net debtor, the fund projects. [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-336659","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/336659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=336659"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/336659\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=336659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=336659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=336659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}