DOHA: Qatar has one of the largest relative public debts in the GCC. With a 'manageable' 29 percent of debt level at its gross domestic product (GDP), the country has the second largest government debt in the region.
In gross terms, Bahrain has the largest debt burden, at 34 percent of GDP. The UAE's Ras Al Khaima stands third-22 percent. The other GCC countries carry small levels of public debt, much lower than 10 percent of GDP, according to a Standard & Poor's research note released yesterday.
The ratings agency's report titled "The Gulf economies are going strong, but structural issues still weigh on the Sovereign Ratings" stated despite the region's relative wealth, and its forecast for 4.6 percent GDP growth for the region in 2013, structural challenges continue to constrain sovereign ratings.
Read more: http://www.zawya.com/story/Qatars_public_debt_second_largest_in_GCC-ZAWYA20130212032924/
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