Gulf to Implement Taxes for Economic Stability: Jamal Fakhro

First Deputy Chairman of Consultative Council and a renowned economic expert Jamal Fakhro said in an interview to CNN United Arab Emirates (Dubai) that it is very hard to predict oil prices because there are a number of issue that are involve in the global oil prices. He stressed that most of the Gulf states are considering very seriously about implementing taxes to improve their economic and financial conditions. It is also said that local currencies proved its worth in the political and economical unity, after linking with the U.S dollar.

He also added that we should resolve our political and security issues and then we will move to improve our economy. He said that region is facing economic, political and fundamental changes. We should not ignore our political problems. Today, security and revenues are improving, which would provide stability to our region. The security and expenses in fight against the terrorism are very high, after solving this major issue, we will be enable to speed up our economic growth and stability. He also added that now this is a circumstance in which you should sit down and think about how we will maintain the continuity of development in our region, the subject of sustainable development, but unfortunately we are talking about a real application do not apply it.

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