Losses of the Gulf Exchanges in August Totaling nearly Half of their 2015 Budgets
Wednesday, 08 26 2015, Category: Economy, Country: Gulf Cooperation Council
Gulf markets suffered since the beginning of this month a recession, probably the worst in seven years for some of them. Due to these shortfalls, seven markets suffered losses estimated at $184.25 billion, equivalent to 44.75% of the $ 412 billion total public budgets allocated by the governments of the Gulf states this year.
According to "Mubasher" statistics, the Saudi market suffered the highest loss, losing $118.86 billion, equivalent to 51.8% of the state budget for the current year, followed by the two markets of the UAE whose combined losses amounted to $ 36.1 billion, equivalent to 269.4% of the federal budget. In the third place came the Qatari market, which lost $ 18.6 billion, equivalent to 31% of the state budget...