Bonds and Instruments issuance in the GCC rose by $32 billion in the first quarter of 2019, raising the region's debt to $478 billion.
On the other hand, revenues in the GCC declined, supported by higher oil prices, which in turn contributed to the fiscal consolidation in all countries of the region, according to a report by the National Bank of Kuwait (NBK) Research Unit.
The report showed growing sovereign debt issuance at the regional level led by Saudi Arabia, supported by lower borrowing costs, good credit rating and international investors' enthusiasm for regional debt issuances. According to the report, the Gulf bond profits have taken a downward trend in the first quarter of 2019, in light of the slowdown in the global growth, signs of concessional monetary policies, low inflation rates, and the recovery of oil prices from the lowest levels in December 2018.
Source: (Al-Arabiya.net, Edited)
