Muscat: 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 highlighted the significant role of oil income as a primary financial resource for the GCC countries, emphasizing the reliance on global oil prices. To mitigate volatility, these countries adopt conservative oil price estimates when drafting their budgets. According to Kuwait News Agency, revenues are expected to remain relatively stable, provided oil prices remain at moderate to high levels. Most GCC countries have projected increased spending for 2025 compared to 2024, viewing higher expenditure as a key driver of economic growth. The focus of the budgets is on completing infrastructure projects and stimulating growth across various sectors to advance strategic development plans. To finance the deficits, GCC countries plan to draw from reserves and utilize both domestic and forei gn borrowing. Based in Oman, the GCC Statistical Center serves as the official body for data and statistics related to GCC countries. It supports national statistical centers and planning authorities across the region, providing critical information to aid in strategic planning and decision-making.
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