Coping with the economic consequences of COVID-19 in the Gulf-MENA Region - Virtual Workshop, 22nd April 2020

On the 22nd April, the Helsinki Policy Forum convened a meeting of its economic working group to explore the economic implications of COVID-19 for the Middle East. This meeting brought together government officials and economic experts from: Bahrain, Germany, Jordan, Spain, Sweden, Turkey, the UAE and UK.Many countries in the Gulf-MENA region will require substantial economic support from the international community. The region is suffering from a triple economic hit – falling oil prices, a collapse in tourism, and a decline in remittances – at the very moment governments need to embark on massive expenditure.Cumulatively, these forces will place enormous strain on the governments of the region and could produce unrest in worst affected countries. The necessity of difficult economic decisions may garner little public sympathy and instead deepen existing frustrations.There is an urgent need for leadership to prevent the worst-case scenarios materialising in the Middle East. Policymakers have taken bold economic decisions domestically in response to COVID-19. This boldness now needs to be matched at the international level.