KUNA : GCC Statistical Center: 2025 budget spending estimated at USD 542.1 bln
LOC11:50
08:50 GMT
GCC Statistical Center
MUSCAT, June 15 (KUNA) -- The GCC Statistical Center announced that estimated government spending for GCC countries in 2025 reached USD 542.1 billion, with projected revenues of USD 487.8 billion, resulting in a USD 54.3 billion deficit.
The center noted that GCC government revenues remain heavily dependent on global oil prices, as oil income makes up the bulk of financial resources, noting that GCC countries adopt conservative oil price estimates when drafting budgets to manage volatility.
Revenues are expected to remain relatively stable, provided oil prices stay at moderate to high levels, and most GCC countries have forecast increased spending for 2025 compared to 2024, viewing higher expenditure as a key driver of economic growth.
The budgets focus on completing infrastructure projects and stimulating growth in various sectors to advance strategic development plans, adding that to finance deficits, GCC countries plan to draw from reserves and use domestic and foreign borrowing.
Based in Oman, the GCC Statistical Center serves as the official body for data and statistics related to GCC countries, supporting national statistical centers and planning authorities across the region. (end) nfa.ahm
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