The UAE has been commended for the contract to maintain its fleet of F-16s © Lockheed Martin
The UAE has been commended for the contract to maintain its fleet of F-16s © Lockheed Martin

GCC countries must improve procurement to tackle 'fiscal crunch'

19 July 2016

GCC countries are facing a fiscal crunch that will inevitably lead to spending cuts unless they adopt a “fit-for-service” approach to government that uses performance-based procurement as a central feature.

According to consultants at Strategy& even if GCC countries grew non oil revenues by 10% annually for the rest of this decade and oil prices return to $50 per barrel, they would not be able to balance budgets.

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