Gulf countries are planning massive investment in infrastructure two years after the Arab Spring in a bid to improve public services, and DCM bankers are expecting an increase in deal flow as sovereigns look at various financing options.
Political unrest that toppled regimes in Tunisia and Egypt has spread to Bahrain and Kuwait, and concerned Gulf rulers have expanded infrastructure investment programmes.
“The Arab Spring has accelerated the spending on projects that are important to the public, such as housing, healthcare and salaries. I think this has increased budgetary spending levels by around 5% to 10%,” said Sjoerd Leenart, JP Morgan’s senior country officer for Middle East and North Africa.
Bonds to flourish as sheikhs sweat | Top News | IFRe
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