GCC-STAT Inaugurates Statistical Portal and GCC Consumer Prices Index

Muscat, 17TH Feb 17 (WAM) – GCC Statistical Center (GCC-STAT) inaugurated Statistical Portal and GCC consumer prices index, first of its kind, in the annual ceremony of the center, which was held in Omani capital Muscat today.

Sheikh Khalid bin Omar al- Marhoon, Minister of Civil Service, explained that GCC-STAT is a real addition to the process of cooperation in the GCC countries, pointing to the importance of statistics and the role of the center in providing the GCC countries with information and indicators in various economic, social and other fields.

The launching of the GCC consumer prices index is the first step of its kind. The index was built on the statistics of the GCC countries through the relative weights of these States and the index will be released on monthly regular basis, and reflects the general consumer index from time to time, Oman News Agency, ONA, reported today The index is an important indicator for decision-makers in order to take coordination, procedural and corrective policies that will help in reducing the rise in prices in the GCC countries.

The index is also considered an important tool in the coordination of financial and monetary policy at the level of the GCC countries, as it is an economic phenomenon with social dimension. It also provides one data for price statistics in various details enabling users to take advantage of them in various fields.

GCC-STAT signed during the ceremony a memorandum of understanding (MoU) with the GCC Standardization Organization in order to build a working relationship and cooperation in the field of statistical and standardization activities and other related activities, like specification, measurement and conformity of standards and quality.

The center also signed an MoU with the Executive Board of the GCC Health Ministers to achieve the goals of serving sound health information because of their pivotal role in decision-making. The memorandum also contributes to health policy to elevate the levels of employees in this field and the Gulf health information and to standardize methodologies and techniques for collecting this data.

Sabir bin Said al- Harbi, GCC STAT Director General , Nabil bin Amin Mulla, Secretary General of GCC Standardization Organization , and Mohammed bin Hamad al-Haidari, Deputy Director General of the Executive Board of the GCC Health Ministers, signed the MoU.

The ceremony included a presentation entitled “Achievements” about the important achievements of the centre since its inception in 2015. Former Board of directors of GCC-STAT were honored in recognition of their fruitful efforts in their working periods.