Sovereign borrowing in MENA to soar to $136bn in 2019: S&P

Sovereign borrowing in MENA to soar to $136bn in 2019: S&P:

Sovereign borrowing by 13 states in the Middle East and North Africa is set to rise by 20 percent this year, as states look to refinance long-term debt and cover fiscal deficits, a report by S&P Global Ratings found.

The countries’ long-term borrowing is estimated to hit about $136 billion in 2019 compared with $109 billion in 2018, when issuances fell by 38 percent, the ratings agency said.

Countries covered by the report include Saudi Arabia, Egypt, Lebanon, Kuwait and Morocco.