Gulf government debt will increase $ 100 billion this year


Standard & Poor’s Global Credit Ratings said on Monday that it expects the Gulf countries ’government debt to rise by a record $ 100 billion this year, in light of the growing funding requirements due to the Corona virus crisis and the drop in oil prices.

The agency estimates that the central governments of the Gulf Cooperation Council countries will record a combined deficit of about $ 180 billion.

“Based on our macroeconomic assumptions, we expect the budgets of the governments of the Gulf Cooperation Council to deteriorate until 2023,” she said in a statement.

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