Officials of the six-nation Gulf Cooperation Council agreed at the weekend to keep working toward the introduction of a value-added tax around the region, in a sign that low oil prices may be strengthening support for the idea.
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Gulf Arab oil exporters will have to reform their state spending and make cuts in some areas because of weak oil prices, Kuwaiti Finance Minister Anas al-Saleh said on Saturday.
The International Monetary Fund pegged the 2014 growth of the GCC at 4.4%.
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