38656
Bahrain Debt to Reach 65% of GDP
World Economy

Bahrain Debt to Reach 65% of GDP

By the end of 2017, Bahrain’s debt is expected to reach 65% of GDP, as it will need an oil price of $120 to balance its books, NewsNow reported. “Oil is central to the six (Persian) Gulf Cooperation Council states (Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman), which have used the windfall of the past few years to spend lavishly. Unlike many oil exporters, such as Nigeria and Venezuela, they have high foreign-exchange reserves and low debts to cover short-term gaps.  But public spending is generous and the private sector is heavily reliant on oil. To be sustainable in an era of lower prices, the rulers must change the structure of their economies,” explained The Economist. It added that Kuwait, the UAE and Qatar, which have small populations and high foreign-exchange reserves, can get by for a decade. But the other three states (Saudi Arabia, Oman and Bahrain) are in a trickier position. Oman and Bahrain have relatively low reserves.

 

Short URL : http://goo.gl/5JH2N3
  1. http://goo.gl/LBWvW4
  • http://goo.gl/ns6ZSe
  • http://goo.gl/GZka1n
  • http://goo.gl/TM7aHb
  • http://goo.gl/cgC1MF

You can also read ...

The World Bank forecasts Russia's economy will grow by 1.7% this year and next, and by 1.8% in 2019.
The economy in Europe and Central Asia will grow 2.2% in 2017...
Participants pose for a family photo during the opening ceremony of D8 Organization for Economic Cooperation Summit in Istanbul on Oct. 20.
Turkey's Foreign Minister Mevlut Cavusoglu on Thursday said...
Digital Changes to Better Shape Asean Economy
Member states of Asean must be ready to embrace technological...
US Unfreezes Sudan Bank A/Cs
The United States has unfrozen bank accounts in Sudan after...
Italy Q3 Growth at 0.5%
Italy’s economic growth improved slightly in the third quarter...
GM Closure Ends Australia’s Car Manufacturing Industry
Australia’s near 100-year automotive industry ended on Friday...
Despite intensifying property curbs and higher mortgage rates, Chinese banks issued $664.70 billion of property loans in the first nine months of this year.
China's central bank governor has warned the country's...
Wall Street Banks Sound Alarm on Stock-Market Correction
The S&P 500 hasn't seen a correction in almost two years....

Trending

Googleplus