DUBAI — The outlook for non-financial corporates in the GCC is stable, Moody’s Investors Service said on Dec. 13 in its annual corporate outlook on the regions.

The report said the drivers of the stable outlook on GCC companies are the generally supportive oil prices, resulting in narrowing fiscal deficits, coupled with governments’ ongoing commitment towards public spending and their supportive stance towards government-related issuers.

Conversely, the outlook for non-financial corporates in both Turkey and South Africa remains negative for the coming 12 to 18 months.