(MENAFN) Supported by higher oil prices, the GCC's fiscal deficit will narrow to 7.5 percent of GDP in 2017 and 4.9 percent in 2018, from 8.8pct of GDP in 2016 and 8.7pct of GDP in 2015.
Meanwhile, fiscal deficits will remain sizeable in KSA, Bahrain and Oman due to challenges to more consolidation from low per capita incomes.
On the other hand, Qatar, UAE and Kuwait will record low fiscal deficits of 0.4 percent, 2.9 percent and 3.0 percent of GDP, respectively in 2017.
In addition, government will face opposition to any further austerity, as reflected in current parliamentary elections.
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