Pressure on Gulf Markets Continues

Pressure on Gulf Markets Continues

A report by Kuwait Finance and Investment Company said "Kfic" The global stock markets rose during November, Where the index closed "MSCI" for the global stocks rise by 2%, The Dow Jones Industrial Average was the best performer Followed by the Japanese 555 index.

Gulf economy
The international Monetary Fund in Kuwait said that the country will need to 100 Billion Dollar to finance budget deficits over the next 5 years, the report also said That the overall funding needs of the public budget remain substantial under the basic scenario, the public budget will record an annual financial deficit of about 15% from overall local result during the next five financial years. Kuwait has reduced support, and It also plans to introduce value added tax in 2018 To fill the budget deficit due to lower oil prices, the state is expected to apply value added tax in United Arab Emirates about 5% on electricity and water bills with the adoption of legislation by the United Arab Emirates government, In Qatar the central Bank of Qatar seeking to reassure foreign investors on the freedom of currency exchange after the "MSCI" said to Indications that the sanctions imposed on Doha made it more difficult for investors to obtain the Qatari riyal, After some Gulf countries and some Arab countries cut off diplomatic ties and transportation lines in June Prompting many Gulf banks and other foreign banks to reduce their activities with Qatari banks, and this has led to trouble in the currency exchange market, where it existed a difference between exchanges rates at home and abroad.

Gulf Markets
The index "MSCI" was decreased of Gulf stocks about 1.3% the geopolitical uncertainty and troubles in the region continued amid the fight against corruption which rise by the government of Saudi Arabia on some royal characters and some prominent characters, As well as continuing political tensions with Iran, and the Muscat Market index was the best performer among Gulf markets followed by Saudi deliberation index.

Muscat market index was rose for money bills about 2% with a positive contribution from the banking sector which rose about 4.3% , services sector about 1.4%, the Saudi deliberation index has rose about 1% with its contribution mainly from the materials sector about 2.2%, banks sector about 2.1%, energy sector about 0.5%, while negative performance was seen in the insurance sector about -6.1%, the Ritz about -7.1%, Consumer services about 14.6%, Dubai financial market index has decreased also about -5.9% due to reduction in the telecom, real estate and energy sectors about -8.1%, 7.4% and 6.9% respectively, Qatar market index has decreased also about -6.6% and has fallen strongly since the beginning of the year -25.5% and the negative performance of the real estate sector came down about -12%, telecom sector -5.9% and then banks sector about -5.2%. يwhere it existed a dissparityunelic budget will record an annual financial deficit of about

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