UPDATE 1-Japan's MUFG expects deep recession across GCC countries [Reuters (UK)]
Mitsubishi UFJ Financial Group, Inc. (MUFG)
Company Research
Source: Reuters
Japan's MUFG expects deep recession across GCC countries - Reuters 2 Min Read DUBAI (Reuters) - Japan’s Mitsubishi UFJ Financial Group Inc (MUFG) ( 8306.T ) expects countries in the six-nation Gulf Cooperation Council (GCC) to be in deep recession this year with overall real GDP contracting 3.7% from a previous growth forecast of 2.9%. The bank said in a research note on Monday the new forecast took into account oil output cuts, the impact of the new coronavirus on the non-oil economies of the region, and the stimulus provided by GCC governments. MUFG estimates the drop in oil prices costs the six nations - Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain and Oman - some $72 billion in overall lost oil export receipts for each $10 a barrel drop, and said it expects overall GCC financing requirements of $208 billion this year assuming an average Brent price of $43 per barrel. “The GCC region continues to grapple with two ultra-bearish shocks – demand-side destruction ca
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- 2/5/26 - Beat
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Analyst Actions
- 1/24/26 - UBS Group AG
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Sec Filings
- 3/5/26 - Form 6-K
- 3/2/26 - Form 6-K
- 2/13/26 - Form 6-K
- MUFG's page on the SEC website