From Zawya.com: 2010 should be a year of improvement for the Middle East as a sluggish global recovery gains momentum and investor confidence rebuilds. Swelled by the accumulation of oil-driven fiscal surpluses over the past decade, sovereign wealth funds can be drawn down to finance potential fiscal deficits without jeopardizing planned investment expenditure.
Indeed, Moody's only sovereign rating actions in the region so far this year have been positive: the upgrade of Saudi Arabia's government bond ratings to Aa3 from A1 and Oman's to A1 from A2 based on the strong state of their government finances........................................Full Article: Source
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