Baghdad / NINA / - The International Monetary Fund expected that energy exporters in the Middle East and Central Asia will record unexpected cumulative gains of about a trillion dollars during 2022-2026.

The fund stated in its regional report / according to the US Bloomberg Agency /: Saudi Arabia and five other members of the Gulf Cooperation Council, who are already among the biggest gainers in emerging markets, will benefit more because they may provide about a third of their oil revenues.

For major producers in the Middle East, the oil boom had the effect of pushing budgets into surpluses for the first time in years, helping to finance spending and allowing some to repay debts early.

Oil prices rose above $120 earlier this year, recording their highest levels in years, but later retreated, and are now trading near the $95 level, a level that is still relatively high compared to the past few years.

The average current account surplus for Gulf countries is expected to reach nearly 10% of GDP in 2022, almost twice the level of last year, and will reach 7.8% in 2023, according to the fund.

Source: National Iraqi News Agency