POLL-Oil to boost Gulf trade surpluses but growth will stay modest | ZAWYA MENA Edition:
"Higher oil prices are set to boost trade surpluses in the Gulf over the next 18 months but economies will grow only moderately because of government austerity policies, a quarterly Reuters poll of private economists shows.
The Brent oil price, now nearly $75 a barrel, has averaged over $68 so far this year -- a leap from last year's average of just below $55. That is good news for the six wealthy oil-exporting countries of the region.
"If prices stay at their current level that would translate into a $100 billion -- 7 percent of gross domestic product -- boost to the Gulf’s oil export revenues compared with last year," London-based Capital Economics wrote in a client note."
'via Blog this'
No comments:
Post a Comment