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Food & Fuel: Surging Prices Spell Mixed Fortunes In North Africa
...BYA (2018) AND ALGERIA (2017). SOURCE: WORLD BANK. 2: PRICES OF MAJOR FOOD PRODUCTS HAVE SOARED OVER THE PAST FEW MONTHS* *FAO FOOD COMMODITY PRICE INDICES SHOW CHANGES IN MONTHLY INTERNATIONAL PRICES OF MAJOR FOOD COMMODITIES. 2014-2016 PRICES USED AS BASE. SOURCE: FOOD AND AG...
Volume: 65Issue: 16Published at Fri, 22 Apr 2022 -
Iraq’s Central Bank Reserves Rebound To Top $60bn
...rrowed, with $13bn through domestic loans, while in November the total was $12bn for a total of $30bn. This allowed Baghdad to limit its reserves drawdown during the course of 2020 to around $10bn. This is broadly similar to the annual drawdowns seen for 2014-2016 when Iraq was grappling with both an oi...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021 -
Egypt Plans Further Cuts To Energy Subsidies
...bsidies in the first half of the current financial year, a much more plausible figure and one that implies an impressive full year figure of $5.7bn, some 8% below the budget figure. However the recent rise in oil prices – Brent has spent the last week above $70/B for the first time since 2014 – could yet ra...
Volume: 61Issue: 16Published at Fri, 20 Apr 2018 -
Saudi Plans $10bn Loan, First Since 1991
...ternational borrowing by Saudi Arabia, combined with the domestic debt issuance could push the general government debt to 9.4% of GDP in 2017, compared to 1.5% in 2014, due to the plunge in oil prices. Longer term, the issue of international sovereign debt will support the development of a market for Sa...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Lebanon: $1bn Bond Success
...ate since President Michel Sulaiman’s term expired in May 2014, with parliament unable to agree on a successor. Political and economic relations between the GCC countries and Lebanon have also worsened: the GCC accuses Shia militia-come-party Hizbollah of terrorism. Hizbollah is part of the Le...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Algeria Oil & Gas Revenues Collapse Further
...Algerian customs data for the first two months of 2016 show that the country’s earnings from oil and gas exports are on target to be just 40% of 2014 levels. Total exports for the first two months of 2016 were worth just $4.19bn, $25.6bn on an annualized basis, down from $62.9bn for 2014 an...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Jadwa Lowers Saudi Oil Price Forecast, Predicts Further Fundraising
...SAUDI ARABIA Jadwa Lowers Saudi Oil Price Forecast, Predicts Further Fundraising Saudi investment bank Jadwa has lowered its forecast 2015 price for Saudi crude to $57/B, whilst raising its production forecast to 9.8mn b/d. Though 100,000 b/d higher than actual 2014 output, this is ac...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
IMF Warns Qatar Of Budget Deficit
...date says the non-hydrocarbon sector recorded an 11.5% expansion in 2014, with the largest contributors consisting of construction, finance, insurance, real estate and business services, trade, hotels and restaurants. QNB expects double-digit growth in the non-hydrocarbon sector until 2018, while in th...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Algeria Oil Cash Down
...ALGERIA Algeria Oil Cash Down Algeria’s fiscal oil and gas revenue in 2014 fell to AD3,388.3bn ($42.4bn), from AD3,678.1bn ($48.4bn) in 2013, according to recently-released Finance Ministry figures. Of 2014 revenues AD1,577.7bn ($19.7bn) was allocated to the budget and AD1,810.6bn ($22...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
After Iran’s Nuclear Deal, Economic Reforms Are A Must
...the IMF’s latest World Economic Outlook (WEO), released this week, Iran’s real GDP growth is projected to grow by 0.6% in 2015, and 1.3% in 2016 – a downward revision from October 2014, mainly due to the fall in oil prices, and uncertainty about the progress towards a full nuclear deal. Fo...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Egypt’s Economy: Still A Long Road To Recovery
...pects the general government deficit to decline to around 10% of GDP between July 2014 and June 2015. The IMF, in its January 2015 report on Egypt, says the deficit eased to 13.6% of GDP for 2013-14 having peaked at 14.1% the year before. Moody’s predicts that the deficit will decrease further to around 9....
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
IMF Downgrades MENA 2014 Growth Projections
...REGIONAL IMF Downgrades MENA 2014 Growth Projections Real GDP growth in the MENA region will be 3.2% for 2014 and 4.5% for 2015, according to the IMF’s six-monthly World Economic Outlook (WEO) released last week. The projection for 2014 growth is downgraded from the figure of...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Libya Denies Shortage of Cash Reserves
...st July. Dwindling export volumes have led the IMF, in its latest World Economic Outlook, released last week, to raise its budget breakeven oil price forecast for Libya for 2014 to almost $190/B. “We have enough funds for three years without getting a single cent from oil,” the head of the CB...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Jordan Considers Long-Term Economic Blueprint
...owth rate of 3.3% in 2013, it expects Jordan’s economy to grow by 3.5% in 2014 and 4.5% in the medium term. She added that inflation is expected to decline to about 2.5% at the end of 2014 and to 2% in the medium term, while the current account deficit (including grants) would gradually improve to 4....
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Oil Exporters/Importers Performance Gap Shrinking, Says IMF
...lf Cooperation Council (GCC) countries. The report says additional oil supplies from Iraq and Libya are expected to more than offset a decline in oil exports from Iran in 2013, while lower net demand for Saudi crude exports could result in marginally lower production. Looking ahead at 2014, ov...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013