Fitch Ratings says it has a negative outlook for the GCC in 2018 on geopolitical risk - The National

Fitch Ratings says it has a negative outlook for the GCC in 2018 on geopolitical risk - The National:

"Fitch Ratings said it had a negative outlook for the Gulf Co-operation Council in 2018 amid heightened geopolitical risks and the inability of some oil exporters to adjust the new oil price reality.

"Budget deficits will persist across the GCC and will stay in double digits in Bahrain and Oman, despite the price recovery," Fitch said.

"For the majority of sovereigns, fiscal break-even oil prices are still considerably above current or expected actual oil prices. This is resulting in worsening sovereign debt and external asset ratios."

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