In the forecast of the "S&P Global" agency regarding credit ratings, the governments of the countries of the Cooperation Council for the Arab States of the Gulf (GCC) will continue to control the largest state enterprises of strategic significance, providing exceptional support when necessary. These enterprises will play a key role in strengthening these countries' efforts to diversify their economies, moving away from the hydrocarbon sector.
According to the agency's forecast, public and private investments will contribute to non-oil growth in the region of more than 3% annually during the period from 2025 to 2028. For financing these investments, government enterprises plan to increase lending to local and regional banks, as well as issue obligations in financial markets.
In particular, according to the agency's analysts, government-supported loans will have significant importance for various projects in such sectors as infrastructure, healthcare, and education. It is planned that these projects could not only improve the quality of life for people in the region but also contribute to the development of a non-oil economy and the creation of new jobs.
"Moreover, we expect that the governments of the GCC will continue to support their largest state companies if necessary, which, likely, will strengthen their role in the economies of the countries," noted the agency "S&P Global" in its report.
