TAG: The Middle East
Saudi Arabia’s strong economic fundamentals allowed it to raise funds from international debt markets and deploy a broad range of fiscal and monetary tools to plug revenue shortfalls and alleviate some of the hardships facing businesses as a result of the Covid-19 pandemic.
Although still largely reliant on hydrocarbons, Kuwait has a number of macroeconomic strengths that helped it withstand the most severe impacts of the pandemic, including high GDP per capita, a strong sovereign credit rating and a deep sovereign wealth fund.