GCC sovereigns' 2020 outlook is negative, says Moody's | ZAWYA MENA Edition:
Moody’s Investors service said in a report that the outlook for sovereign creditworthiness in the Gulf Cooperation Council (GCC) in 2020 is negative.
The negative outlook reflects slow progress on fiscal reforms at a time of moderate oil prices, weak growth and higher geopolitical risk, the ratings agency said.
"The pace of fiscal consolidation will remain slow in the GCC in 2020 and fiscal strength will continue to erode in the absence of significant new fiscal measures and reforms," said Alexander Perjessy, a Moody's Vice President - Senior Analyst.
"This will be exacerbated by existing commitments to limit oil production, which will reduce government revenue," Perjessy added.
No comments:
Post a Comment