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GCC government spending to remain key driver of economy

GCC government spending is expected to continue playing an important role in the near-to-medium term as countries look to achieve their ambitious development, diversification and net-zero targets, a report said.

Infrastructure investment: A thematic overview by Emirates NBD Research says that the value of projects (both private and public sector) in execution in the GCC was over $572 billion. Projects are dominated by the construction sector, which accounts for 34 per cent of the value of projects currently in execution. The gas, transport and power sectors follow, with smaller but still significant shares for projects currently in execution.

As might be anticipated, the value of projects, is largest in Saudi Arabia and the UAE, with shares equivalent 50.6 per cent and 27.5 per cent respectively. The next largest is Qatar with a 12 per cent share, predominantly driven by Qatar Energy projects.

Link: https://www.zawya.com/en/economy/gcc/gcc-government-spending-to-remain-key-driver-of-economy-xaua3b5e

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