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Libya’s 2021 Finances Boosted By Oil Revenues, Skewed By Dinar Devaluation
...nister Abdulhamid Dbeibeh was frequently accused of overspending to boost his popularity: hiking wages, granting generous marriage allowances, and awarding numerous government contracts. But in dollar terms, spending of $19.1bn was the lowest since 2011 – the year in which a bloody civil war ousted lo...
Volume: 65Issue: 02Published at Fri, 14 Jan 2022 -
Qatar Keeps Crown As Largest LNG Exporter For 2020
...art 3). India emerged as Qatar’s largest LNG client last year (see chart 4), taking 10.8mn t/y as it outstripped No.2 South Korea for the first time since 2011. Four of Qatar’s top five buyers last year were from Asia. The UK grabbed the fifth spot, but according to Kpler, Qatar’s most recent shipment th...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Egypt Delays Subsidy Reform With Economy On The Mend
...tbacks since the 2011 ouster of former President Husni Mubarak. Revenue has slowly picked up since the October 2015 downing of a Russian passenger jet over the Sinai Peninsula but it appears trouble is never far away. On 29 December a roadside bomb in Giza killed three Vietnamese tourists and their Eg...
Volume: 62Issue: 02Published at Fri, 11 Jan 2019 -
Algeria Set For 11th Straight Deficit In 2019
...dget anticipating a $17.4bn deficit. Algeria has run up cumulative budget deficits of over $100bn since 2009, with deficits recorded even in 2011-14 when oil prices were over $100/B. They have ballooned since as oil prices tanked (see charts 1 &2). 2017 was the closest Algeria has got to ba...
Volume: 62Issue: 02Published at Fri, 11 Jan 2019 -
Shell, Iran Clear Debt
...troleum Contract (IPC - MEES, 4 December 2015). The debt stems from purchases of Iranian crude in 2011 and 2012 for which Shell was unable to pay due to the imposition of fresh sanctions in 2012. In the firm’s 2012 annual report, it said that “Currently, we have approximately $2,336 million pa...
Volume: 59Issue: 02Published at Fri, 15 Jan 2016 -
Oman Slashes Spending For 2015, But Will More Cuts Be Needed?
...ojected at OR9.16bn ($23.8bn), or 79% of total revenue, level with 2014 but well down on the 85% average for 2011-13. Thus the 2015 budget projects a record deficit of OR2.5bn ($6.5bn), equivalent to 21.6% of revenue and to 8% of GDP (see graph). OMAN’S FINANCES 2006-15 (OR BN)* OM...
Volume: 58Issue: 02Published at Fri, 09 Jan 2015 -
Oman’s 2014 Budget Aims To Curb State Expenditure
...tal budget revenue and 6% of GDP. The government appears to be calling an end to its sharp post-Arab Spring spending increases (as seen in the 2011, 2012 and 2013 budgets – see table), which Oman and other GCC countries instigated in an attempt to nip unrest in the bud. $85/B Oil Price As...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Oman Boosts 2013 Budget Expenditure 29%, Hikes Oil Price Assumption
...velopment projects and OR1.3bn ($3.4bn) earmarked for capital expenditure to boost production in the oil and gas sector. Oman 2010-13 Budgets (OR Mn) 2013 2012 % Change 2011...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Jordan 2013 Budget Targets Projects, But Also Austerity
...mes, with its budget deficit widening as a result of disruptions in the flow of Egyptian gas to the kingdom via the Arab Gas Pipeline (AGP) in the aftermath of the January 2011 revolution. Until then, Jordan had mainly used the gas, which was available at preferential prices, for power generation, but th...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Syria Issues 2013 Budget Law
...r in the country, the issue of a state budget merely appears intended to stress that business is as usual. Also with the sharp depreciation in the official value of the Syrian pound (from $1=S£47 in March 2011 to $1=S£79 currently), coupled with a high inflation rate of over 40%, comparison of the 20...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013