Saudi Arabia: Downgrade adds to pressure on economy

Fitch Ratings has cut its sovereign credit rating, citing the kingdom’s “continued deterioration of public and external balance sheets, the significantly wider than expected fiscal deficit in 2016 and continued doubts about the extent to which the government’s ambitious reform programme can be implemented.” As Fitch points out, between June 2016 and January 2017, government deposits declined by SR242bn ($64.5bn) to SR841bn (35% of 2016 GDP), leaving them at around half their August 2014 peak of SR1.6trn. At the same time, general government debt has risen from 4% of GDP in 2015 to 9.7% now.
27 March 2017. Read more

Bahrain's Economic Performance

read more

Gulf boundaries and hydrocarbons infrastructure

read more

The Gulf region: economy and society

read more

Iraqi Kurdistan hydrocarbons infrastructure map

Revised in January 2015, this map provides a detailed overview of hydrocarbons infrastructure in the Kurdistan area of Iraq.

read more
Register now Buy credit to view GSN articles Search the GSN archive Sign up for GSN News Alerts Request a GSN free trial

GSN View

Qatar banks on mastery of soft power to keep Saudi tanks at bay

The impending E222m ($261m) transfer of Brazilian footballer Neymar da Silva Santos Júnior has set the club he has played...

read more

Iraqi Kurdistan: Doubts about referendum

The dispatch of a high-level Patriotic Union of Kurdistan (PUK) delegation to Tehran on 16 July was another sign of the...

read more

New plays on the Syrian chess board

Syrian rebel groups are keeping an anxious eye on the dispute pitting Qatar against its neighbours, as divisions threaten to...

read more
SEE ALL POSTS

Events

4-5 September

Private Investor Middle East

The Montcalm London Marble Arch

18-19 October

Kingdom Renewable Energy Summit 2017

Riyadh, Saudi Arabia

13-17 November

Power Week

Singapore

6-8 March

Middle East Electricity

Dubai World Trade Centre, UAE

SEE ALL EVENTS
Web Design by FDC