Arab Today, arab today gcc to see only small impact from us europe debt woes
Last Updated : GMT 17:12:57
Arab Today, arab today
Arab Today, arab today

GCC to see only small impact from US, Europe debt woes

Arab Today, arab today

Arab Today, arab today GCC to see only small impact from US, Europe debt woes

Dubai - Arabstoday

The current economic turmoil in the US and Europe may have a short term impact on the GCC but the longer term effect will be limited because the economic fundamentals in the region remain strong, QNB Capital said on Monday. Recent weeks have seen the most dramatic developments in the global economy and markets since the credit crunch three years ago.A key event was the first ever downgrade of US government debt by credit rating agency Standard & Poor\'s, on August 5. QNB Capital said in a statement that market volatility was likely to continue for some weeks as investors reassess risk, with GCC markets continuing to be influenced by moves in global markets.While oil prices have dropped to their lowest level in 2011, QNB Capital said it did not expect there to be a sustained decline in oil.\"Moreover, GCC governments use conservative oil prices in their budget assumptions and, before the current turmoil struck, were on course to post large fiscal surpluses this year,\" the company said. \"The GCC countries\' fiscal surpluses and low levels of public debt mean that, even if oil prices were to decline, this would not seriously disrupt their spending plans. This is important, because government spending is the foundation of the region\'s non-oil economy,\" it added. Separately, a weaker dollar, to which GCC currencies are pegged, could increase the cost of imports and boost inflation in the region, QNB Capital said, adding that it did not expect the impact from a weaker dollar to be significant.\"The GCC is intimately connected to the US, Europe and Asia, and economic and market turbulence there will continue to reverberate in the Gulf. However, it is better placed than most other regions to navigate safely through a turbulent global economy,\" the statement said. From / Arabian Business News

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gcc to see only small impact from us europe debt woes Arab Today, arab today gcc to see only small impact from us europe debt woes

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Russia, Iran ink economic deals

GMT 08:03 2017 Wednesday ,29 March

Russia, Iran ink economic deals
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 11:55 2017 Wednesday ,29 March

Need ‘gymspiration?’ The top fun fitness bloggers

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 05:17 2017 Wednesday ,29 March

Samsung to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday