Gulf Arab oil exporters are expected to see their budget deficits peak this year owing to the plunge in energy revenues, recently said report. The combined deficit of the six Gulf Cooperation Council (GCC) states is forecast to hit $153bn in 2016, up from $119bn last year, Kuwait's investment firm KAMCO Research said. The GCC deficit will start easing from next year but the six nations are forecast to post an average annual shortfall of $100bn until 2021.
