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Debt rose by 11 Arab countries, including the oil-rich Gulf Cooperation Council (GCC), to $ 143 billion in 2015, according to the announcement by the company ‘Standard & Poor’s credit rating.
And it announced the ‘Standard & Poor’s company credit rating for the debt of a number of Arab governments to rise to more than last year doubled, expected to remain high through 2016. The company said in its report that the debt of 11 Arab countries have undergone classification, including the oil-rich Gulf Cooperation Council (GCC), It rose to $ 143 billion last year, compared with 70.6 billion dollars in 2014.
2015 included Iraq’s debt numbers ($ 30 billion), which was added to the list for the first time.
She pointed out that the governments of the Gulf Cooperation Council (GCC) borrowed $ 40 billion last year, including $ 26 billion borrowed Arabia, the largest oil exporter in OPEC.
Egypt topped the list by borrowing $ 44 billion in 2015, according to the ‘Standard & Poor’s. The company forecast lower borrowing for these same countries in 2016 by no more than about 6% to 134 billion, so that would borrow GCC $ 45 billion.