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Fitch International said in a report that Kuwait, Abu Dhabi and Qatar would achieve a budget surplus, while Saudi Arabia would show a slight deficit in its balance sheets this year and a deficit for Bahrain and Oman in the unique numbers.
The increase in revenue in some countries could lead to financial exposure when oil prices fall again.
The IAEA pointed out that all oil exporting countries in the Middle East and North Africa Their financial and overseas budgets
The agency noted that financial improvements are not purely mechanical, Saudi Arabia and the UAE applying VAT and production taxes, and other GCC countries are still seeking to implement them.
And many reduce their capital expenditures, pointing out that the implementation of VAT in Kuwait could be delayed until 2021 and will not occur until 2019 in Oman and Bahrain.
Saudi Arabia postponed the target date to achieve fiscal balance from 2020 to 2023, indicating that Bahrain and Oman remain the most vulnerable to any slowing of reforms or further decline in oil prices . "Bahrain has been downgraded by about 4 levels since 2014, reflecting our forecast of an increase in medium-term debt (nearly 90% of GDP in 2020)."
The Sultanate of Oman has shown greater effort to a certain extent, and has a solid public budget in the public sector © Al-Rai 2018
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