OCTOBER 22, 2015
Cairo - Anatolia: likely the International Monetary Fund to have the effect of lower oil prices limited to expatriates working in the Gulf Cooperation Council (GCC) transfers.
He attributed the appreciation for this to be expected not to decline in the growth of real GDP of non-oil, only slightly to about 3.8 percent during the year the new fiscal 2015-2016, compared to 5.9 percent in the last fiscal year 2013- 2014.
According to a statement issued by the IMF «during 2014 sent about 29 million foreign workers' remittances to their home countries, amounted to more than $ 100 billion. It was sending about one-third to the countries of the Levant, Pakistan and Yemen, which relies heavily on remittances, especially in the Gulf States ».
and receive Egypt and Jordan, about 70 percent of the total workers in the Gulf remittances, equivalent to between 5 to 7.5 percent of GDP the total of the two countries respectively.
It is estimated that the decline in real GDP is the oil in the Gulf countries by about 1 percent, lead to lower transfers to the Mashreq countries, Pakistan and Yemen in the range of 0.5 to 0.75 percent.
predicted the agency «Moody» credit rating Day Tuesday to register the Gulf region a deficit in their budgets
of around 10 veggie percent of GDP for the region in 2015 and 2016, compared with an average surplus of 9 percent, during the period from 2010 to 2014
and expects «Moody» that the average price of Brent 55 dollars per barrel in 2015, and $ 53 a barrel in 2016, before gradually recovering and amounts to about $ 60 a barrel in 2017.
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