The International Monetary Fund has calculated that oil exporting
countries in the Middle East and central Asia lost $390 billion (346
billion euros) in revenue due to lower crude prices last year.
Masood Ahmed, the IMF’s director for the
region, is warning it should brace for losses of between $490 billion
(435 billion euros) and $540 billion (480 billion euros) this year,
compared to 2014 when oil prices were higher.
Speaking in Dubai as the Fund released its latest economic outlook,
Ahmed said that will translate into budget deficits and slower economic
growth.
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Source: Euronews
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