Mubasher: GCC sovereigns' combined fiscal deficit is expected to reach $150 billion in 2016, representing 12.8% of combined GDP, according to a statement.
The region's funding requirement has been rising since 2015, when the drop in oil-related revenue turned fiscal surpluses into deficits.
GCC’s financing needs are likely to reach $560 billion in 2015-2019.
In 2016-2019, the deficits are forecasted to average around 10% per year in Bahrain, Oman, Kuwait, and Saudi Arabia, and 4% on average in Abu Dhabi and Qatar.
