Fitch expects most GCC fiscal balances to worsen by 1-2PP of GDP
GCC fortunes tied to oil
- Bahrain is the only GCC sovereign where 2019 fiscal balance is reported to improve.
- Headline fiscal balances will weaken across much of the Gulf cooperation council in 2019 and 2020.
- Fitch forecast most GCC fiscal balance to worsen and used assumption that Brent will average $65/BBL down from USD 71.6BBL in 2018