Coronavirus to dampen GCC’s economic growth; Covid-19 fatalities surge in Iran; UAE experiences first negative growth since 2009; Libya’s oil revenue losses exceed $1.8bn; Aramco to develop Al-Jafura gas field

Global ratings agency S&P expects the outbreak of Covid-19 coronavirus to dampen the growth of GCC economies already affected by low oil prices and geopolitical unrest. “If the virus continues to spread, there is a risk that the economic impact could increase unpredictably, with credit implications not just for China, but elsewhere,” S&P said.

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