Description

Significant fall in oil prices has drastically altered public spending patterns throughout the region. Growing number of countries are trying to opt for a strict fiscal measures and tax impositions to combat fiscal deficit. Increased oil production from Iran post sanctions could pose greater geopolitical risks on the region’s overall economic health from Q4 2015 onwards. Impending interest rate hike by the US government in Q1 2016 poses currency risks to the countries such as Saudi Arabia and the United Arab Emirates.