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Iraq Passes 2021 Budget With Strong Emphasis On Power Projects
...penses. In 2014, when large swaths of the country’s northern and western provinces fell to ISIS, Iraq failed to pass a budget as well. 20% OF REVENUES FROM ‘NON-OIL’?… Of course, as per every year, oil income is slated to make up the lion’s share of the total $69.88bn in revenues. The bu...
Volume: 64Issue: 14Published at Fri, 09 Apr 2021 -
Saudi Economy: Modest Diversification Efforts Face Bleak Outlook
...ckage aimed primarily at protecting small and medium sized enterprises (SMEs), but implementing this alongside budget cuts will be a delicate balancing act. As of end-February Riyadh also had $497bn foreign reserves to turn to. This is almost $250bn below their August 2014 peak and reserves look set to so...
Volume: 63Issue: 14Published at Fri, 03 Apr 2020 -
Sonatrach Slashes 5-Year Spending Plan: Is It Finally Getting Real?
...ar’s $75bn for 2017-21 and little more than half the $100bn planned for 2014-18. But muddying the water is that actual spending in recent years has seriously lagged the planned figures. Each plan has presumed that ‘one more year’ of austerity will be followed by four years of higher oil prices and in...
Volume: 61Issue: 14Published at Fri, 06 Apr 2018 -
Kuwait Plans To Double Debt Ceiling To $66bn
...2015 4Q16 vs 4Q15 4Q15 2014 2013 2012 20...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
$22bn In Saudi Cash And Products To Keep Egypt Afloat
...ypt obviously missed Prime Minister (then Oil Minister) Sharif Ismail’s target of paying off the dues by end-2015 (MEES, 28 November 2014), things had at least been moving in the right direction. If the $20bn figure attached to Saudi Arabia’s five-year oil products supply deal is correct then this is...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Saudi Crown Prince Plots $2,000bn Mega Wealth Fund
...oil prices and with them Saudi revenue since late 2014, where the cash will come from. King Salman, who took power in 2015, has allowed his favorite son Muhammad to grasp many of the kingdom’s key reins of power. His mooted economic policies are revolutionary given Saudi Arabia’s conservative an...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Egypt Issues $1.5Bn Eurobond Mandate
...ggested that the new Eurobond could be as high as $2bn, depending on the market. Cairo spent E£44.8bn ($5.9bn) on subsidizing oil products in the first half of the current fiscal year (July-December 2014), slightly less than half the amount of E£100bn ($13.2bn) budgeted for full year. With the steep fa...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
UAE Eyes FDI Boost
...ee zones. FDI surged 25% in 2014 to exceed $13bn, after a 9% increase in 2013 to $10.5bn, the minister noted, quoting UNCTAD statistics. He adds that under the UAE Vision 2021, his government aims to achieve foreign investment flows equal to 5% of GDP. He also said that the UAE is keen to rank fi...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Jordan Slashes 2014 Budget Deficit
...JORDAN Jordan Slashes 2014 Budget Deficit Jordan cut its deficit (after grants) by 55.6% to JD585.3mn ($825.3mn) for 2014. This equates to 2.3% of GDP, down from 5.5% of GDP (JD1.32bn - $1.86bn) for 2013. While spending rose by 11% to JD7.85bn, revenue rose by almost 18% to JD...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
$3.8Bn Syria Pledges
...neral Ban Ki Moon, 90% of the pledges made in 2014 were honored by the donors. Syrians are the victims of the “worst humanitarian crisis of our times,” the Secretary General says, and that he has only “shame and deep anger and frustration at the international community’s impotence to stop the war.” In...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Qatar Announces Record Budget But Curbs Expenditure Growth
...QATAR Qatar Announces Record Budget But Curbs Expenditure Growth Qatar has unveiled yet another record budget for the 2014-15 financial year. But while expenditure growth is set to slow significantly relative to previous years, the allocation for infrastructure projects is...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014 -
Bahrain: Government Debt To Keep Rising
...n-oil GDP growth is projected to pick up to about 5% in 2014, driven by capital spending, while oil GDP is expected to be flat. For the full year the IMF projects overall growth at around 3%, reflecting continued weak investment sentiment in the non-oil sector and limited growth in the oil se...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014 -
Cyprus Economy Still At Risk From Bad Loans And Unemployment
...ze enterprises. With rising unemployment, falling credit, and increasing non-performing loans (NPLs), Cyprus’ outlook “remains challenging,” according to the IMF. The fund has left its growth projections unchanged, with “a deep contraction expected in 2014 and a modest and credit-less recovery ta...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014