The budgets of the GCC deficit will exceed a trillion dollars

[yota691]

The budgets of the GCC deficit will exceed a trillion dollars

 

      Thursday   22   October   2015 | 09:27

 

 

 

It lost the Middle East oil-exporting countries $ 360 billion due to lower oil prices by Fund estimates

 

Is expected to lose the Gulf Arab states trillion dollars over the next five years due to lower oil prices, which forces them to take action to adapt to the new reality, according to a warning issued by the International Monetary Fund. During the current year alone, the Middle East oil-exporting countries lost 360 billion dollars due to lower oil prices, according to Fund estimates. Fund Gulf Arab states are advised that they need "urgently very" to the reforms to adapt to the continuation of this decline for years to come. refers latest report expectations of future fund on the Middle East that the decline in oil prices and unrest growing in Some countries in the region will lead to a cessation of growth at 2.5 percent. Reports indicate that the conflict between the Gulf states and Iran, and the worsening military conflict in Syria, Yemen and the turmoil in Iraq had a negative impact on the budgets of these countries. Most of the citizens of the Gulf Cooperation Council are working in the public sector, This pattern must change over the next five years, Masood Ahmed Director, Middle East and Central Asia Department at the International Monetary Fund, according to the IMF report, Syria, Iraq and Yemen are still more economically vulnerable countries, as Jordan and Lebanon also faces considerable economic pressure due to host large numbers of Syrian refugees. With regard to the deficit in the budget, it will reach 13 percent of GDP this year in the Gulf Cooperation Council (GCC), as quoted by Agence France-Presse for Masood Ahmed Director, Middle East and Central Asia in the International Monetary Fund. and includes Saudi Arabia Council United Arab Emirates, Qatar, Oman, Bahrain and Kuwait. Masood predicted that the total deficit exceeds the budgets of these countries over the next five years a trillion dollars with falling price of a barrel of oil from $ 114 in the month of June last to $ 50 now. and contributed to increasing the supply of oil and weak demand it drastically lower prices. necessary measures are advised Monetary Fund and the Gulf states to cut spending and to diversify sources of income to meet the expected fiscal deficit and "adapt to the new reality" on continuously falling oil prices. The proposed measures to adapt to the new reality of lower oil prices include reducing public spending. The fund is expected that the Gulf countries will be able to take the necessary adjustment measures thanks to the large financial reserves accumulated during the years in which the increased oil prices. He suggested Massoud that the Gulf states cut support goods and services and the wage bill in the public sector. "Most of the citizens of the Gulf Cooperation Council (GCC) are working in the public sector, and this pattern has to be changed during the next five years. "Despite the fall in oil prices, the IMF predicted an improvement in the growth of the Iranian economy up to 4 percent in the" medium term ". The fund attributed to an increase in trade and investments with ease sanctions International from Iran after the signing of the nuclear deal with the six powers.

 

[MyLadiesDaddy]

Iran is so putting their own head on the chopping block. It's ridiculous. What makes people think they can piss off everyone in the room and not receive an attitude adjustment?

[Texstorm]

But LGD , didn't they just get their hands slapped by Obama who told them not to make those little incendiary nuclear devices that put off EMP's.

[MyLadiesDaddy]

LOL

[TrinityeXchange]

it's amazing how the republicans played up that whole iranian nuclear crisis.  and even more amazing how the american people continue to eat propaganda like an escaping bucket of fried chicken.  

[ComPLX]

"escaping bucket of fried chicken"

Well, Trin. I only have 2 words for you

BOCK,BOCK

[sandfly]

THANKS

[TrinityeXchange]

"escaping bucket of fried chicken"

Well, Trin. I only have 2 words for you

BOCK,BOCK

i feel you my friend.  they make it sound so convincing.