22.12.2008 - Huge surpluses will cushion budget deficits
From Gulfnews.com: While a sustained oil price slump would have a drastic impact on oil producers' spending power, high oil prices have allowed Gulf central banks to enhance their cash cushion against any downturn and to build up huge sovereign wealth funds. The Gulf made export earnings of $2.2 trillion in the five years to June, according to estimates of Saudi Arabia's Samba Financial Group..... Full Article: Source