Bahrain, Angola, Ecuador and Venezuela rank as the emerging - TopicsExpress



          

Bahrain, Angola, Ecuador and Venezuela rank as the emerging markets (EM) most vulnerable to a downgrade in their sovereign credit ratings if oil prices do not recover in 2015, Fitch Ratings said in a report published on Tuesday. With benchmark Brent crude prices close to $80 a barrel, down from $115 a barrel in mid-June, the revenues of all oil producers are under pressure. But due to differing levels of fiscal reliance on oil income, the speed of deterioration in domestic budgetary conditions varies sharply among EM producers. The blue bars in the chart below estimate the oil price at which each country manages to balance government revenues with spending, known as the fiscal breakeven point. The red squares on the chart plot the estimated 2014 budget surplus or deficit in each country, expressed as a percentage of GDP.
Posted on: Tue, 25 Nov 2014 17:28:22 +0000

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