Middle East Economic Survey

VOL. LII

No 24

15-Jun-2009

REGIONAL

GCC Pressured, But Well Placed To Ride Out Turbulence, Says S&P

The outlook for all GCC sovereigns is currently stable, but significant challenges this year include managing the impact of the downturn in the global economy and the fall in crude oil prices, upon which most GCC economies are highly dependent (see story below), said S&P in its fourth annual Gulf Cooperation Council Credit Survey dated June 2009. The reduction in...