Rebecca Roberts, Slowdown in the Gulf reverberates in the Middle East; Oct. 31, 2008

http://www.iht.com/articles/2008/10/29/africa/29mideast.php

For some of the financially strapped countries in the Middle East, the oil rich countries of the Gulf have helped to send the dollars back home. That is until recently with the oil prices per barrell falling to below $100 a barrel. In countries such as Egypt and Jordan are mostly hit by the dropping oil prices.

Analysts speculate that so long as prices for oil per barrell continue to stay at $55 countries budgets will not be able to handle the drop in prices. Egypt is currently receiving $6billion in aid to its more than 2 million citizens to help in the decrease in oil prices. In Saudi Arabia alone this year has sent to Jordan $500 million to help with finances.

Over the summer months with oil barrel prices were at $150 a barrell countries in the Middle East did not have to struggle as much as they are now. Countries in the Middle East that are oil-rich are struggling now to make their ends meet.