IMF warns on Gulf states growth amid oil price fall and conflict - FT.com:
"Gulf states face slower economic growth as a “large and persistent” drop in oil prices increases the urgency for them to cut spending and diversify revenues, according to the International Monetary Fund.
In its latest regional economic outlook for the Middle East, north Africa and Central Asia, published on Wednesday, the IMF forecast that the six-member Gulf Co-operation Council will see gross domestic product growth slow from 3.25 per cent this year to 2.75 per cent next year.
Council members’ average fiscal deficits are expected to reach 13 per cent of GDP this year, with the region’s largest economy, Saudi Arabia, facing a deficit of 21.6 per cent in 2015 and 19.4 per cent in 2016."
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