S&P Report: Gulf Producers To Slash Deficits As Oil Prices Rise ...Middle East

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S&P Report: Gulf Producers To Slash Deficits As Oil Prices Rise
The Arab Gulf oil producers are expected to slash their combined government deficits to some $80 billion this year from $143 billion last year, thanks to higher oil prices, reopening economies, and fiscal consolidation, S&P Global Ratings said in a report on Wednesday.   The total government deficits of the six members of the Gulf Cooperation Council (GCC)—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE)—are expected to drop to 5 percent of gross domestic product (GDP) this year, compared to deficits…

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