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FINANCIAL NEWS
Qatar to issue USD8bn budget deficit
31 Jul 2016
(MENAFN) Qatar is predicted to run a budget deficit of USD8bn, equivalent to 5 percent of GDP this year, which is the smallest amid the GCC States.
However, the GCC countries lost USD157bn in oil revenues last year and are predicted to lose more USD100bn this year.
On the other hand, the country was restructured in Jan 2016 as part of the plan to face the influence of the oil prices shock to its economy.
Moreover, governments in the region are taking measures like imposing taxes, eliminating fuel subsidies and cutting public sector jobs, which made changes to Mena economies.
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