Austerity experiment in Gulf could hit economies like never before

Oil-rich Gulf nations are relying on a well-worn playbook of spending less and borrowing more to get through the coronavirus crisis but with the outlook for oil clouded by uncertainty, the strategy is riskier than before. Previous bouts of belt-tightening have relied on rebounding oil prices to replenish state coffers but Gulf states have bigger […]

from Daily Times https://ift.tt/35zKww8