Capital expenditure surges to USD920B during economy rebound| MENAFN.COM

Monday, 23 May 2022 06:50 GMT

Capital expenditure surges to USD920B during economy rebound


(MENAFN) According to Moody's Investors Service, non-financial businesses' capital expenditure in Europe, the Middle East, and Africa is estimated to rise up to USD920 billion from June 2021 to June 2022.

A surge in expenditures tied to the changes which Covid-19 prompted, such as online sales and distant working, are going to promote this.

According to an article released on Tuesday by Moody's, capital spending by non-financial business individuals in the area are expected to be jump by USD150 billion over the agency's evaluation forecasts for the same timeframe in 2020.

Richard Morawetz, a vice president and senior credit officer at Moody's, explained the situation: “the utilities, telecoms and energy sectors will dominate capital spending, accounting for half the total – but nearly all sectors are contributing to the overall increase."

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