04 Apr 2016
(MENAFN) The fiscal deficit in the Gulf Cooperation Council (GCC) is predicted to increase to USD 143bn or 10.5 percent of the gross domestic product (GDP).
Moreover, the GCC fiscal balance has moved from a surplus of USD 49bn in 2014 to a deficit of USD 127bn in 2015, equivalent to 9.1 percent of GDP.
Accordingly, it is expected that the financial debt will spread to USD 143bn or 10.5 percent this year under the assumption of an average oil price of USD 40 per barrel.
However, lower oil incomes will be more than offset the projected 11 percent fall in real spending, while public foreign assets are large and sufficient to finance the deficit.
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
26 Jan 2026
BBK Enhances Autumn Fair 2026 Experience with Customized Rewards and Premium Services
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