Construction Reports

GCC Macro Economic Indicators and Budget - April 2022

Title: GCC Macro Economic Indicators and Budget - April 2022
Published on: 30-05-2022 Price: $250.00
Excerpt:

The International Monetary Fund (IMF), in its World Economic Outlook for April 2022, projected that among the six GCC countries; Kuwait is predicted to have the highest GDP growth in 2022, at 8.2%, followed by Saudi Arabia (KSA) (7.6%). Oman at 5.6% is third, and is above the UAE (4.2%), Qatar (3.4%) and Bahrain (3.3%).

Following several years of having fiscal deficits, the GCC countries will rebuild their buffers in 2022. Higher government revenues and expenditure rationalisations in 2022 budgets strengthens balance sheets and offers greater fiscal capacity to navigate towards a post-pandemic equilibrium that not only improve credit profiles and stabilising sovereign ratings, but reduce new issuances and restricting supply, thus easing debt burdens.

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