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  • 27-10-14

    GCC States register USD780m in fund outflows in FY 2013-14

    (MENAFN) According to a study by the International Monetary Fund, capital outflows from Gulf Arab states have totaled to about USD780 million, which is equivalent to only 0.05 per cent of gross domestic product or 3.5 percent of assets under management between May 2013 and July 2014, Gulf Business reported.

    This outflow compares with cumulative out flows from other emerging markets, which amounted to USD79 billion, equivalent to 0.35 per cent of GDP and 6.1 per cent of assets under management, resulting in the outflow from the Gulf countries to be much smaller since early 2014 despite it being in line with those from other emerging markets before this year.

    The IMF report suggested that the outflow might have been affected by the recent plunge of global oil prices to four-year lows, which if sustained could negatively affect most of the GCC countries external surplus, due to these countries being dependent on oil in their economy, as well as cause them to run a state budget deficit next year.

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