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Wednesday, 11 January 2017

Weak growth outlook in GCC to keep government ratings under pressure | GulfNews.com

Weak growth outlook in GCC to keep government ratings under pressure | GulfNews.com:

"Weakening economic activity resulting in low gross domestic product (GDP) growth across the Gulf Cooperation Council (GCC) is expected to apply further downward pressure on sovereign credit ratings of many countries, according to Standard & Poor’s.
Available data for 2016 show a weakening trend in GCC economic activity, reflecting the impact of low oil prices and the resulting fiscal consolidation and reduced banking sector liquidity.
“We expect average GCC GDP growth to slow to about 2 per cent in 2016, compared with closer to 4 per cent in 2015 and to remain around these relatively weak growth rates in 2017,” said S&P credit analyst Trevor Cullinan,"



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