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AME Info, Abu Dhabi, United Arab Emirates, Editorial Column.

Byline: Peter J. Cooper

Jan. 9--GULF GOVERNMENTS KEEP ON SPENDING: GCC government budgets for 2002 are set at levels similar or higher than 2001, despite the oil price falls. So regional businesses have no reason to fear a recession, indeed confidence appears to be growing with capital returning from the West.

There has been remarkable solidarity amongst the Gulf oil states in the face of declining oil revenues. They have all decided to maintain, or even increase, spending in 2002.

This is great news for regional business, especially those who may

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