Wednesday 31 October 2012

Spending leaves Gulf states ‘vulnerable’ - FT.com

Strong economic growth forecasts across Gulf countries mask a set of swelling uncertainties linked to heavy government spending, wider Arab world politics and potential volatility in the international oil price.
While the six-nation Gulf Co-operation Council is well-cushioned by oil money, many economists say there are doubts about the sustainability of expansion based mainly on buoyant crude markets and booming state investment and individual consumption.

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