Several oil-importing Arab states face debt crises in 2023

By Gregg Carlstrom: Middle East correspondent, The Economist, Dubaithe young, said Herbert Hoover, an American president, for they shall inherit the national debt. Those in the Middle East must be particularly sanctified. Oil-importing states will end 2022 with hair-raising amounts of debt. Egypt, Jordan and Tunisia all owe around 90% ofDebt will be a dominant issue in 2023, as several states either seek or startprogrammes .

Everyone will hope for help from the Gulf states. If oil prices stay high, they will have billions of dollars to spend around the region. Gone are the days, though, of lavish handouts to allies. Instead they see countries like Egypt as distressed assets. Sovereign-wealth funds will snap up stakes in strategic sectors, but monarchs will be far less eager to cut cheques.

Egypt buried itself in debt to build questionable megaprojects; Tunisia, to pay one of the world’s largest public wage bills. Lebanon turned its economy into a giant Ponzi scheme. None of them has a plan for serious reform. The best that any of them can hope for in 2023 will be to muddle through.This article appeared in the Middle East section of the print edition of

Corruption for promoting themselves is expensive

Are you sure?

Qatar and Iran will continue funding Terrorism tho. Unfortunately.

Oil importing?

For these countries, the lack of liberty comes with an economic hardship price tag. What ever is derivation, the corrupt power of domination, the guilt of influence peddling, must be somehow changed. If not, riotous unrest, like the Arab Spring, awaits with civil wars.

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