(MENAFN) The Inter-Arab Investment Guarantee Corporation (IAIGC) stated that in 2012, the combined Arab fiscal surplus is projected to drop to USD60.4 billion from nearly USD70.7 billion in 2011, reported Emirates 24/7.
The Kuwait-based corporation said that the total Arab current account surplus would decline from USD272 billion in 2011 to approximately USD225 billion this year as a result of a fall in the GCC.
The IAIGC stated that the fiscal surplus in Saudi grew to USD52.7 billion in 2011 and is expected to go down to USD46.6 billion this year.
On the other hand, Kuwait's surplus is projected to be at USD41.7 billion in 2012, whereas the UAE's will be at USD18 billion.
It is worth noting that the entire rise in the budget surplus in 2011 was mainly in the GCC, as other Arab countries suffered from deficits, especially those that were hit with political turmoil, according to the IAIGC report.
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