09 Nov 2015
(MENAFN) The Gulf Cooperation Council (GCC) is anticipated to witness a deficit of USD275 billion in export revenues this year on the back of lower oil prices, as the available data shows.
According to the International Monetary Fund (IMF); total development pace in the region is forecasted to decrease to 3.2 percent in 2015 and more 2.78 percent over 2016.
In order to deal with this major problem; the Gulf nations need to strengthen fiscal policy through higher non-oil tax and energy prices as well as control over public division wages.
However, practical policies over the past decade have enabled them to build up financial buffers, which avoid the need for a “sudden or disruptive” adjustment in fiscal policy.
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
19 Feb 2025
Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more