Tough funding conditions for GCC corporates: the hidden effect of lower oil prices

Tough funding conditions for GCC corporates: the hidden effect of lower oil prices

The liquidity conditions in the GCC region has tightened since mid-2014. The Gulf Cooperations Council’s countries are still heavily dependent on oil, despite their efforts towards greater economic diversification, and the low energy prices have been dragging down government’s fiscal revenues. This led to deteriorated financial and business conditions since the beginning of the decline in oil prices, and therefore pushed governments to adopt austerity measures.

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