Saudi Pre-Budget Statement, Gulf GDP data

Saudi Arabia's Pre-Budget Statement for 2027, which projects wider deficits than previously thought, highlights the fiscal challenges facing the Kingdom. The government won’t face any trouble financing larger shortfalls, but the public debt ratio will remain on an upwards path. Meanwhile, Qatar’s Q2 GDP data confirmed that its economy has suffered a much larger blow from the Iran war than some of its Gulf neighbours. But there at least encouraging signs that the Gulf economies are managing to get more of their hydrocarbon exports through the Strait.