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Monday, 16 January 2017

GCC deficits set to narrow amid higher revenue | The National

GCC deficits set to narrow amid higher revenue | The National:

"GCC governments are likely to face rising levels of public debt this year, despite higher oil prices, according to Moody’s.

The ratings agency’s 2017 outlook for GCC governments says that although economies will experience an average increase in revenue for the first time in three years – 8.5 per cent this year and 13.8 per cent in 2018 – most will continue to record fiscal deficits as spending pressures remain.


The report said that the region’s governments "will continue to face headwinds from subdued economic growth, increasing fiscal and structural reform fatigue, and persistent oil price volatility".

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