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dc.contributor.authorIradian, Garbis
dc.contributor.authorLaRussa, Samuel
dc.date.accessioned2020-11-21T13:17:50Z
dc.date.available2020-11-21T13:17:50Z
dc.date.issued2020-05-29
dc.identifier.urihttp://63.32.3.213:5555/xmlui/handle/123456789/474
dc.description6 pages.en_US
dc.description.abstract• We deepened the recessions in the six GCC countries, and now expect output to contract by 4.4% in 2020. • The aggregated current account balance will shift from a surplus of $88 billion in 2019 to a deficit of $33 billion in 2020. • Financing of the projected fiscal deficit of 10.3% of GDP will remain readily feasible given the GCC’s considerable reserves. • The plunge in oil prices provided a catalyst for reforms, including the resumption of sizable fiscal consolidation. • Most GCC banks are well positioned to absorb the twin shocks.en_US
dc.description.sponsorshipThe Institute of International Finance, Inc.en_US
dc.language.isoenen_US
dc.publisher. The Institute of International Finance, Inc.en_US
dc.subject. The Institute of International Finance, Incen_US
dc.subjecteconomic crisisen_US
dc.subjectPublic debten_US
dc.subjectmonetary policyen_US
dc.subjectoil pricesen_US
dc.subjectGCC banksen_US
dc.subjectGCC countriesen_US
dc.subjectSaudi Arabiaen_US
dc.titleGCC: Grappling with its worst economic crisisen_US
dc.typeWorking Paper | ورقة عملen_US


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