Gulf countries record $151.1bln surpluses in 2022: Kamco Invest

Gulf countries record $151.1bln surpluses in 2022: Kamco Invest

KUWAIT CITY, Jan 4: Kamco Invest said financial performance of the Gulf countries last year recorded a surplus of about $151.1 billion in 2022, but will decline to $125 billion in 2023, reports Al-Rai daily.

Kamco Invest reported in charts that summarized the most important economic developments in the GCC countries during the past year, under the title “Gulf Countries: 2022 – The Year That Has Elapsed”, that the oil price breakeven for Kuwait’s budget amounted to $56.7 per barrel in 2022, expecting that it will rise to $57.8 a barrel in 2023, coming in second place in the Gulf with the lowest parity price, after Qatar, whose budget oil price reached $48.1 in 2022 and is likely to reach $49.9 this year.

Oil output

It expects the real GDP of the Gulf countries to grow by about 6.5 percent last year, with 10.5 percent of oil output and 4 percent of non-oil output. of oil output and 3.7 percent of non-oil output, reports a local Arabic daily. Kamco Invest reported that the value traded on Gulf stock exchanges declined by 13.1 percent from $790 billion in 2021 to $687 billion in 2022, while the value traded on the Kuwait Stock Exchange amounted