ON THE PRACTICE OF LONG-TERM PLANNING IN THE ARABIAN MONARCHIES
The approaches of six Arabian monarchies (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE) to economic planning are considered. It is shown that the development of these countries since the beginning of large inflows of petrodollars (in 1970s) is based on five-year plans similar to the Soviet ones. In the middle of the 2000's the monarchies developed long-term plans until 2030-2035. The countries of the Arabian Peninsula are compelled to radically change of their development model. The paternalistic state is replaced by a more liberal approach, in some cases corresponding to the methods of "shock therapy" - taxes are increased and subsidies reduced. The structural goal is to diversify the economy and create new sources of value added that are not related to oil production.