GCC finance officials have agreed five macro-economic and budgetary criteria for European-style economic union by 2010. In their summit, Gulf leaders need to endorse those targets.
According to press reports, they must also decide how and when to set about integration. These issues will be discussed in Abu Dhabi summit on Sunday.
The criteria cap budget deficits at 3% of GDP, public debt at 60% of GDP, inflation at the GCC average plus 2% and interest rates at the average of the lowest three states plus 2%.
