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Saturday, 28 April 2018

Oil rebound to ease GCC fiscal pressure - The Peninsula Qatar

Oil rebound to ease GCC fiscal pressure - The Peninsula Qatar:

"Higher oil prices are expected to result in better current account balances in the GCC over 2018 and 2019. The higher prices are expected to give GCC countries more flexibility in terms of their ongoing fiscal consolidation plans, according to KAMCO Research.

However, KAMCO analysts continue to expect initiatives to bolster the GCC non-oil economy to be less synchronised than the previous years, as individual GCC countries are likely to use different fiscal tools to shore up their state finances.

Citing IMF’s latest World Economic Outlook (WEO), KAMCO’s monthly research note said Kuwait’s current account surplus in GDP terms to be the highest in the region at 5.8 percent of GDP in 2018, improving by 720bps from their October 2018 update, while 2019 current account surplus in GDP terms is forecasted to improve by 500 bps (3.6 percent)."



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