Investors and analysts are preparing for a bumpy ride for at least the next six months as the European debt crisis stunts global growth and threatens to spill over to the Arabian Gulf.
While oil revenues should help to shield the region from a downturn, more negative twists in the global outlook could drag crude prices down, economists warn.
"My concern is with oil prices, which are a major credit driver for the GCC, and regional and sectarian issues," said Raza Agha, a senior economist at Royal Bank of Scotland for the Middle East and North Africa (Mena). "All of these things are depressing the outlook for the region."
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