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Algeria Forex Reserves Slump Below $100bn For First Time In 10 Years
...ude prices rising by around $10/B over the last three months of 2017. The country’s finance ministry projects that this rate of decline will ease over the coming years, with reserves stabilizing at around $76bn in 2020. The IMF is considerably more bearish – albeit in forecasts made in July, be...
Volume: 61Issue: 01Published at Fri, 05 Jan 2018 -
Saudi Foreign Reserves*
...ARE ON TRACK FOR A $45bn (8.4%) 2017 DRAWDOWN... ...BUT, HAVING FALLEN BELOW $500BN FOR THE FIRST TIME SINCE 2011 IN MAY, THEY HAVE SINCE STABILIZED AT JUST SHY OF THIS LEVEL ($bn) *SAMA NET FOREIGN ASSETS ($BN, END PERIOD). ^FORECAST BASED ON DATA TO END-NOV. SOURCE: SA...
Volume: 61Issue: 01Published at Fri, 05 Jan 2018 -
Oman Plans Cut To 2018 Spending In Bid To Trim Deficit
...at there is a good chance that oil and gas revenues – forecast at 71.4% of the total for 2018, down from 73.5% for 2017 – will overshoot. The budget’s low-looking $50/B oil price assumption is less than the average Omani figure for 2017 of $52.30/B – around $2.20/B below Brent. If Omani crude av...
Volume: 61Issue: 01Published at Fri, 05 Jan 2018 -
Jordan’s Finances Get $800mn USAID Boost
...pport Fund for Jordan for 2017. The minister says this will be used to fund priority projects in the 2017 budget and thus help cut the fiscal deficit. The US is also providing Jordan with $337mn in financial assistance to support economic development and improve social services. This takes total US no...
Volume: 61Issue: 01Published at Fri, 05 Jan 2018 -
Saudi 2017 Budget Boosts Spending But Slashes Deficit By One-Third
...Saudi Arabia is banking on rising oil prices to help slash its budget deficit by more than a third. The kingdom’s newly released 2017 budget projects revenue to grow for the first time in five years, although non-oil revenue growth is set to stall despite its vaunted 2030 Vision. Saudi Ar...
Volume: 60Issue: 01Published at Fri, 06 Jan 2017 -
Oman 2017 Budget Cuts Deficit By 44% With Brighter Prospects For Oil Revenues
...Sharp spending cuts and rising oil prices are combining to slash Oman’s projected budget deficit by 45% to OR3bn in 2017. A conservative oil price estimate means this could fall further to around OR1bn. Oman has announced an austerity budget for 2017 slashing its fiscal deficit by 44% in re...
Volume: 60Issue: 01Published at Fri, 06 Jan 2017 -
Oman Slashes Subsidies In 2016 Budget, Announces Economic Reforms
.../B for 2017-18 and $60/B for 2019-20, and average oil output flat at around 990,000 b/d. Though output hit 1mn b/d for the first time ever in July it has since dipped (MEES, 11 December 2015), whilst higher domestic consumption has cut into gas exports (see p9). Challenges identified in the plan in...
Volume: 59Issue: 01Published at Fri, 08 Jan 2016 -
Record Saudi Earnings Boost 2013 Budget Expenditure
...just accordingly, said Mr Reeve. “Current spending will remain reasonably strong, but capital spending will continue to be reined in,” he commented. Saudi economist Turki al-Huqail warned in a report published last month in Sharq al-Awsat that Saudi Arabia would need an oil price of $106/B by 2017 if th...
Volume: 56Issue: 01Published at Fri, 04 Jan 2013