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FINANCIAL NEWS
Gulf markets predict 2016 to be better
02 Jan 2016
(MENAFN) Saudi Arabia, Dubai, Egypt and other local bourses were caught in an emerging market fall this year and the Gulf was hit by shrinking oil incomes.
Gulf governments begin to reduce spending in response to cheap oil, which will hurt economic increase next year.
Additionally, expensive equities valuations decreased to more levels; Saudi Arabia’s market is trading almost 13 times this year’s estimated earnings, Egypt at 10 times.
Reforms to state spending, energy subsidies and tax systems in Gulf States may put them on a sustainable financial footing.
More News
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