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Year-on-Year Deficits Brewing in Gulf Economies

Apr 24, 2019 | 10:00 GMT
Containerships in Saudi Arabia's Jeddah Islamic Port on Dec. 13, 2007.

Containerships in Saudi Arabia's Jeddah Islamic Port. Most Gulf Arab states will post fiscal deficits in 2019, and growth in some economies will decelerate.

(ROSLAN RAHMAN/AFP/Getty Images)

More spending, low growth and recurring deficits are not a recipe for long-term economic sustainability, but this concoction may be a necessary pill for Gulf states to swallow as the hard work of economic reform sets in....

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