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Saudi Budget Deficit Swells To Largest Since 2021
...er the same period, despite capital investments falling by $1.8bn to a two-year low of $7.4bn. These all combined to push the budget deficit up to $15.7bn, which was the highest quarterly figure since 4Q 2021’s $18.2bn. Indeed, it is the worst start to the year since 2016, at the height of the 2014...
Volume: 68Issue: 19Published at Fri, 09 May 2025 -
Qatar Slumps Into Recession
...git growth up until 2014, it too has seen its performance decline in recent years, dropping to just 1.3% growth last year. Like its neighboring petrodollar economies, Qatar has been struggling to diversify, despite having its own National Vision 2030. Although the share of oil and gas in the ec...
Volume: 63Issue: 19Published at Fri, 08 May 2020 -
Iran Threat To Nuke Deal As Exports, Revenues Face Collapse
...uters ship-tracking indicates a record 800,000 b/d. If correct this would be an all-time high, eclipsing the previous record of 798,000 b/d set in April 2014 and the more recent July-August 2018 highs of 770-775,000 b/d. That said, more generally Chinese imports from Iran are down: 475,000 b/d for 1Q...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Saudi Oil For Sudan
...man did not specify whether the oil in question was crude or refined products. Sudan’s crude production fell to just 75,000 b/d in early 2018, from 115,000 b/d in 2014 (MEES, 16 March). The country has been suffering a fuel crisis for several months, leading recently to increasing social unrest. If cr...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Libya Wins $1bn From SocGen, But Cases Highlight Shambolic Economic Governance
...ADERSHIP DISPUTES The issue over who heads the LIA has been long drawn out. Mr Breish was deposed as LIA head in June 2014 under Law 13, a measure passed by parliament in May 2013 that excluded those associated with the previous regime from participating in state functions. But he continued to be re...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Libya Investment Authority: A History Of Legal Wrangles
...The LIA lodged a lawsuit against French Investment bank Societe Generale in 2014. In this it claimed the relationship between it and SocGen through which the latter executed $2.1bn of trades on behalf of the LIA in the 2007-09 period was based on a “fraudulent and corrupt” scheme involving a $58...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Gulf Banking Ripe For Takeover Spree
...venues fell from a six-year high of $97.2bn in 2014 to just $44.3bn in 2016, a collapse of 54% (see chart). They are projected to rise back above $50bn this year but will still remain well short of 2014 levels. It’s a similar story elsewhere in the GCC, with Saudi crude revenues falling a staggering $15...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Saudi Reserves Down $50Bn Amid Bonus Payouts
...esent low levels in the mid-term. Total Saudi reserves, $732bn at the end of 2014, rose slightly to $734bn a month later before falling to $714bn at end-February and $698bn in March, according to SAMA’s Monthly Statistical Bulletin for March 2015. Reserves peaked in September 2014 at $746bn. Af...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Saudi 2015-19 Plan Targets 5% Growth
...re 8.35mn b/d, up over 500,000 b/d from the 4Q 2012 figure of 7.83mn b/d. Samba says Saudi growth was 3.8% for 2013 as a whole. It projects a fall to 3.1% in 2014, 2.8% in 2015 and 2.6% in 2016. According to Samba, net foreign assets, which stood at $753bn in 2013, are projected to rise to $83...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Fragile Economy Dominates Upcoming Iranian Elections
...e IMF’s World Economic Outlook, April 2013, Iran’s real GDP, which fell 1.9% in 2012, is projected to fall by a further 1.3% in 2013, before rising 1.1% in 2014. Consumer prices rose by 30.6% in 2012 and are to increase by a further 27.2% in 2013 and 21.1% in 2014. As for unemployment, the rate, wh...
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
Kuwait Grants $215Mn For Jordan LNG Terminal
...frastructure facilities, marine equipment and installations, a floating storage and regasification unit, and servicing of LNG vessels. The LNG terminal, projected for completion in the second half of 2014, will allow Jordan to diversify its sources of energy, which previously depended on Egyptian gas su...
Volume: 56Issue: 19Published at Fri, 10 May 2013