Standard & Poor’s Expects A Decline In Gulf Budget Deficits, Starting From 2021

The credit rating agency Standard & Poor’s confirmed that the Gulf countries will not have to borrow as much as they borrowed last year through 2021 thanks to the recovery in oil prices, and the start of the regional economic recovery from the repercussions of the Corona pandemic, Al Qabas daily reported.

The agency expects the Gulf states to control public finances during the coming period until 2023, with the decline in the budget deficit of the Gulf states and stronger economic activity.

According to Capital Economics data, the total international issuances of the Gulf countries excluding Kuwait reached $ 42 billion in 2020, which is a 25% increase from 2019.

 

SOURCE  TIMESKUWAIT

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