Gulf states to gain $1.3 trillion in additional oil revenue by 2026: IMF

The gains, due to high oil prices, are expected to provide 'firepower' to the region's sovereign wealth funds (SWFs), one of the largest in the world

Countries in the Middle East are expected to gain up to $1.3 trillion in the next four years from additional oil revenues, according to the International Monetary Fund (IMF). The gains, due to high oil prices, will provide 'firepower' to the region's sovereign wealth funds (SWFs), according to Financial Times (FT).

The region's oil and gas exporters, especially the Gulf countries, "will see additional cumulative oil revenues of $1.3 trillion through 2026," IMF director for the Middle East and North Africa Jihad Azour was quoted as saying by FT.

Most of the oil and gas exporters in the region have large SWFs