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Gulf countries are in a tight spot. At a time when increased government spending is needed to offset the negative impact of coronavirus, Saudi Arabia has forced oil prices down to $30 a barrel.
For those with strong enough economies, part of the answer to the question ‘where will governments find the money to survive?’ might be on international markets.
Gulf authorities have announced a swathe of spending cuts in an effort to rebalance budgets this year, but with coronavirus hitting supply chains and inward investment, a fiscal response is now required.
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