"Bahrain must urgently cut spending or risk unsustainable public debt as its fiscal deficit widens and oil prices decline, according to the International Monetary Fund.
The smallest Gulf crude producer needs “gradual fiscal consolidation” equal to 7.7% of economic output over the next six budget years to contain its government debt at 40% of gross domestic product, the Washington-based fund said in report released late yesterday.
It also recommended that Bahrain pare its fiscal stimulus to 0.9 percentage points of non-oil GDP from 2.1 percentage points, it said."
'via Blog this'
No comments:
Post a Comment