Gulf countries record $151.1 bln surpluses in 2022: Kamco Invest

This news has been read 9768 times!

Value traded on KSE increases by 9.8 percent

KUWAIT CITY, Jan 4: Kamco Invest said financial performance of the Gulf countries last year recorded a surplus of about $151.1 billion in 2022, but will decline to $125 billion in 2023, reports Al-Rai daily. Kamco Invest reported in charts that summarized the most important economic developments in the GCC countries during the past year, under the title “Gulf Countries: 2022 – The Year That Has Elapsed”, that the oil price breakeven for Kuwait’s budget amounted to $56.7 per barrel in 2022, expecting that it will rise to $57.8 a barrel in 2023, coming in second place in the Gulf with the lowest parity price, after Qatar, whose budget oil price reached $48.1 in 2022 and is likely to reach $49.9 this year.

Oil output
It expects the real GDP of the Gulf countries to grow by about 6.5 percent last year, with 10.5 percent of oil output and 4 percent of non-oil output. of oil output and 3.7 percent of non-oil output, reports a local Arabic daily. Kamco Invest reported that the value traded on Gulf stock exchanges declined by 13.1 percent from $790 billion in 2021 to $687 billion in 2022, while the value traded on the Kuwait Stock Exchange amounted to about 49 billion last year, an increase of 9.8 percent from its level in 2021 of 45 billion.

The sources explained that the assets of the Gulf banking sector amounted to $2.993 trillion until September 2022, an increase of 5.69 percent compared to its level at the end of 2021 of $2.832 trillion. Kuwaiti banks ranked fourth in the Gulf, with assets amounting to $264 billion at the end of last September, recording an increase of 3.53 percent percent, compared to 255 billion at the end of 2021. The sources indicated that the total fixed income issuances in the markets of the Gulf countries decreased by about 41 percent, from $145.5 billion in 2021 to $85.8 billion in 2022, as Gulf government sukuk issuances fell from 35.3 to 29.5 billion, while government bond issuances declined from 33.3 to 16.6 billion. Corporate sukuk issues decreased from 22.2 to 16.9 billion, and corporate bonds from 54.7 to 22.7 billion dollars.

This news has been read 9768 times!

Related Articles

Back to top button

Advt Blocker Detected

Kindly disable the Ad blocker

Verified by MonsterInsights