The survey concentrates on macroeconomic issues pursuant to Economic and Social Commission for Western Asia (ESCWA) resolution 270 on macroeconomic policy for financial stability, which recognized the urgent need to analyze the short-term economic effects and the long-term possible consequence of the current oil boom. It draws lessons from the previous oil boom and charts the policy landscape in search of alternatives that can retain financial and human resources aimed at meeting the requisites of development as a human right and the Millennium Development Goals (MDGs).