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Saudi Economy Contracted In 2023 Amid Oil Price Drop
...7% contraction in 2020 during the Covid-19 pandemic - largely because in 2020 the sector was coming off a relatively weak previous year. Indeed, it is the sharpest oil-sector contraction in MEES records going back to 2011 (see chart 1). Oil prices softened considerably last year amid strong su...
Volume: 67Issue: 06Published at Fri, 09 Feb 2024 -
The $100bn-Plus Cost Of Syria’s Civil War
...bn. This is almost as large as Syria’s pre-war GDP, the Bank notes in its latest Mena Quarterly Economic Brief. In addition, damage caused by the war to the “capital stock” in Syria between 2011 and 2014 was estimated at $72bn, the World Bank said, quoting a report by the local Syria Center for Po...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
Ministry Claims $60bn Oil Sector Losses
...Syrian oil minister Sulaiman al-Abbas says that the country’s oil and gas sector has suffered “direct and indirect” losses of $60.4bn between 2011 and end-2015. The minister said that oil production from government-controlled areas averaged 9,500 b/d in 2015, just 2.5% of the pre-civil wa...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
IMF Approves $507Mn Credit To Tunisia
...ternal buffers and foster higher inclusive growth, following the economic difficulties and series of external shocks arising after the 2011 revolution. Protracted Transition Commenting on the release of the second tranche, the IMF’s Deputy Managing Director, Nemat Shafik said that “Tunisia is go...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
Jordan’s Budget Challenges: Energy And Refugees
...s large deficit, and indicated that it was looking for alternative sources of energy to lower the public debt arising from high energy costs. Prior to the Egyptian revolution of 2011, Jordan generated around 80% of its electricity from Egyptian gas imported at preferential prices. Supplies have si...
Volume: 57Issue: 06Published at Fri, 07 Feb 2014 -
Egypt’s Budget Deficit Rises 24%
...its Financial Monthly for January 2013. Total revenue in July-December 2012 rose 31.1% to E£152.9bn ($22.8bn) from the corresponding period of 2011, mainly as a result of the 38.1% increase in tax revenue. Income tax revenue in July-December 2012 rose by 53.1% over the same period in 2011. Non-oil ta...
Volume: 56Issue: 06Published at Fri, 08 Feb 2013