A recent report that featured regional economists’ views on GCC economies found that their respective economies could make better use of record oil revenue. The GCC has reaped the fruits of high crude prices, posting record oil revenues of about US$ 450 billionn last year, and are expected to raise their windfall in 2006.
Last year's oil income of the GCC is double that of 2003 and more than three times the level of revenues in 2001.
