[Mhiz Rebecca]

Oil-dependent economies like
Nigeria and Russia may gain
significantly in 2017 from United
States President-elect Donald
Trump’s proposed tax cuts and
huge infrastructure spending,
according to a new report by
American magazine, Fortune.
The report states that if Trump goes ahead
with his proposed plan, emerging markets
that export to the West would benefit.
The report also quoted Thomas Clarke, co-
manager of the William Blair Macro
Allocation Fund as saying that another likely
benefit for oil-producing countries from
Trump’s victory might be the rebounding of
oil prices.
“The big downward pressure on commodity
prices is over,” says Clarke.
Fortune quotes the Blue Chip Economic
Indicators survey as saying that the vast
majority of forecasters believe oil, which
rebounded from $26 in late January to $47 at
press time, would rise to between $50 and
$59 in 2017.
That’s certainly good news for oil-producing
economies, it concludes.