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FINANCIAL NEWS
Arab oil exporters to face budget deficit in 2016
15 Nov 2013
(MENAFN) Energy exporting states of the Arab world are expected to face a fiscal deficit in 2016 as they are not saving enough oil, according to The Daily Star.
The International Monetary Fund said: “Together with substantial oil revenue risks, this prospect underscores the need for countries to build or strengthen their fiscal and external buffers.”
According to Reuters, the GCC countries’ spending boosted by 9.7 percent in 2012.
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