International Monetary Fund: Public debt of a half of Arab countries is more than 90%


The International Financial Asset (IMF) stated that half of Arab countries' public debt is now more than 90% of GDP, a warning of rapid growth due to the continued increase in budget deficit from time to time global crisis in 2008.

Director of International Financial Assets Christine Lagarde in a statement to the Press Press Group of the Public Finance Forum held in Dubai reported that the continuing deficit was causing public debt to rise in Arab countries.

"Unfortunately, the area has not fully accessed from global financial crisis and other major economic exemptions in the last ten years," said Lagarde.

Economic growth has become better among countries that contain oil only, but it is still under severe levels. Public debt growth of countries that grow; including Arab habitats from 64% of GDP in 2008 to 85% in 2018.

She warned that the next economic route to the area is challenging, demanding the exporting countries to use renewables in the future, according to the Paris Conference on Climate, which is Provides environmental reduction damaging the environment.

Last month, the International Monetary Fund set down the republic for economic growth for Saudi Arabia, the largest oil exports in the world, and for the Middle East and North Africa, on due to falling oil prices, and & # 39; product erosion and geopolitical tensions.

Saudi Arabia's public debt rises by 24% when oil prices rise, despite a reduction in its budget deficit; The first nine months of 2018, 59.7%, compared to the final period of 2017.

The Ministry of Finance said in the statement that the budget deficit to the third quarter of 2018 was up to 49 billion bills (13.1 billion dollars), compared with 121.1 billion compensation (32.4 billion dollars) during the -the same same last year.

Public debt rose to 549,516 billion dollars (146.53 billion dollars) at the end of September, compared to 443.253 billion royalties ($ 118.2 billion) by the end of 2017, according to Saudi minister.

Source link