GCC economies were immune to the global credit crisis for the better part of 12 months. While many people thought that the Middle East?? S oil reserves would protect their economies from the crisis, these expectations proved unfounded. The fall in capital values deteriorate sovereign wealth funds and lack of access to credit derailed many magnificent property development leaves reach; horizons full of gray crane downtime. Economists expect the current conditions are stable and persistent over most of the rest of the year. At the end of this year (2009) to 2010, conditions of capital market is expected to stabilize and improve. In this crisis, no country is an island, Australia has also recognized its economy was in recession.
Virtually all world markets have declined sharply fear of a market has recorded positive returns uncorrelated, the Tehran Stock Exchange. Enough said.