Abu Dhabi deficit to widen significantly in 2016, says Moody’s | The National

Abu Dhabi deficit to widen significantly in 2016, says Moody’s | The National:

"Abu Dhabi’s fiscal deficit will widen significantly in 2016, as oil prices remain lower for longer, according to Moody’s the ratings agency.

The emirate will run a fiscal deficit of 14 per cent of GDP this year, the ratings agency expects. Fitch estimates that Abu Dhabi ran a fiscal deficit of 13.2 per cent in 2015.

Major falls in oil and natural gas revenues are driving the deficits, with receipts falling from 26.6 per cent of GDP to 17 per cent of GDP from 2015. Oil revenues are expected to fall by about 41 per cent this year from their 2014 high, Fitch expects."



'via Blog this'