(MENAFN) According to the IMF prediction, despite recent development in oil prices it is projected those fiscal deficits of GCC States will remain large.
Additionally, all nations are projected to record fiscal deficits this year, and only Iraq, Kuwait and the UAE will post surpluses by 2021.
Moreover, cumulative fiscal deficit amid 2016-2021 are predicted to be almost USD765bn, down from USD1.1tr in April this year.
However, GCC States face growing hard policy choices to achieve the notable medium-term fiscal adjustment their economies still need.
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