According to Arab Net, the agency expected the total aggregates in Gulf budgets from $ 143 billion in 2020 to 8020 in 2021, and this deficit will be funded by varying proportions between state and other, by using precautions and religions, which will decrease on average 50 billion dollars per year until 2024, according to the agency's expectations.
This improvement is primarily due to improved oil revenues, following the high prices and the recovery of global demand. It is also due to the financial reforms carried out by some Gulf countries, especially Saudi Arabia, which has led the rise in non-oil revenues from all revenues.
Budgets benefit from recovery economic activities, with economies gradually opening after Corona's pandemic.
However, Standard & Poor's does not expect a quick return for classifications to what it was in 2015 before the big drop on oil prices since then.
The Gulf states have faced double difficulties last year. In addition, economic activity is declined as a result of the pandemic, including in all countries, the Gulf states have found themselves to another problem as falling revenue as a result of low global demand for oil.
