Gulf economies to take coronavirus exports hit says S&P

Gulf economies to take coronavirus exports hit says S&P

The ratings agency believes there is a risk that the economic impact of the virus could increase unpredictably with implications for overall economic growth, the oil price and the creditworthiness of some companies.. The ratings agency expects the impact on the banking sector to be low, with little direct exposure to Chinese companies. LONDON: Gulf states already hurt by a weak oil price could reap further economic pain from the impact of the coronavirus on their exports, S&P Global Ratings warned on Monday.. "Given the importance of the Chinese economy to global economic activity, S&P Global Ratings expects recent developments could weigh on growth prospects in the GCC, already affected by low oil prices and geopolitical uncertainty," it said in a report.. Coronavirus could hurt Dubai's tourism, raises Oman risks: S&P /node/1629081/business-economy. S&P analyst Zahabia Gupta said Oman's economic downside risks were higher this year because of weaker oil demand and its exposure to China.. It forecast economic growth for Oman this year of 2.2 percent, up from an estimated 0.9 percent in 2019.. This year S&P expects oil prices to be around $60 a barrel and next year $55 a barrel..