Desktop Stock Ticker | GCC countries have strong asset base, says report

GCC countries have strong asset base, says report

A new report from Standard & Poor's says GCC governments have enough assets to shield their economies from the turbulence and keep their economies moving through 'counter-cyclical expansionary fiscal policy', despite experiencing significant losses on their foreign asset holdings over the past 18 months. Saudi Arabia, Abu Dhabi, and Kuwait are in the best position, while Bahrain and Oman are in the least comfortable positions due to their limited oil resources, compared to other GCC states, S&P's credit analyst Farouk Soussa said.

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