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In the 1970s and 1980s, many countries in the Middle East found themselves flush with an oil boom, both in terms of production and in terms of its buying power and price. This recent 142-page report created by the World Bank reports on what some of these countries are planning to do with these increasing revenue streams, and some of the results may be a bit surprising. The report notes that oil producers are turning these monies gleaned from oil into a way to pay down debt, build up substantial savings, and also to set up oil stabilization funds. The report also notes that this windfall has not necessary translated to some of the more resource-poor economies in the area, such as Lebanon and Morocco.
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