Cooperation Council for the Arab States of the Gulf oil and gas exports to top $450 billion

A new announcement by Bahrain-based Gulf Finance House expects that GCC-wide oil and gas export revenues will top $450 billion this year, averaging $12,000 on a per capita basis, reported The Peninsula. The external current account excess is also predicted to be around $200 billion and the fiscal surplus to be on the level $150-170bn. These surpluses are predicted to support government expenditure over the medium-term and finance the spree of cross-border acquisitions by sovereign wealth funds.