Rated: $ 30 billion of Iraq 's debt last year 3/2/2016
Rated: $ 30 billion of Iraq 's debt last year
3/2/2016 0 Comments
Announced today [S & P] credit rating, high debt of a number of Arab governments more than doubled last year expected to remain high through 2016.
The company said in its report that "the debt of 11 Arab countries have undergone classification, including the GCC oil-rich, rose to $ 143 billion last year, compared with $ 70.6 billion in 2014".
The report included the 2015 figures for the debts of Iraq [$ 30 billion], which were added to the list for the first time.
He pointed out that "the governments of the Gulf Cooperation Council (GCC) borrowed $ 40 billion last year, including $ 26 billion borrowed Arabia, the largest oil exporter in OPEC."
Egypt topped the list by borrowing $ 44 billion in 2015, according to Standard & Poor's.
The company forecast lower borrowing for these same countries in 2016 increased by no more than 6 percent to reach 134 billion, so that would borrow GCC $ 45 billion.
And based on the 2016 forecast on the assumption that most of the Gulf Cooperation Council (GCC) will withdraw from the huge financial reserves to fund their budget deficits caused by the drop in oil prices.
It is expected that the volume of total commercial debt to Arab countries $ 667 billion at the end of this year, an increase of $ 85 billion in 2015.
By way of comparison, the Gulf Cooperation Council (GCC) has recorded a surplus of $ 220 billion in 2012.