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The Institute of International Finance (IIF) expects that the Gulf Cooperation Council (GCC) countries’ gross foreign assets will hit an impressive $4.4 trillion by 2024. This growth is due to robust oil exports and current account surpluses reaching an estimated $146 billion.
The IIF’s report highlights that nearly two-thirds of these assets are under the stewardship of sovereign wealth funds. They boast diversified portfolios comprising public equities and fixed-income securities.
Net assets position
Contrary to the gross foreign…