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Oman’s Economy Rebounds With $2bn 1H Surplus
...08. Q2’s surplus of $1.12bn was up fractionally on Q1 (MEES, 27 May) for the highest quarterly figure since Q1 2014. Revenues were up across the board, with total 1H revenue of $17.47bn up 54% on 1H 2021 for the highest 1H figure since 2014 (see chart). Oman is on track to smash the plans set out in...
Volume: 65Issue: 32Published at Fri, 12 Aug 2022 -
Saudi Deficit Shrinks To Two Year Low
...Six months into 2021 and Saudi Arabia looks on course to post its smallest annual deficit since the 2014 oil price crash, even if spending picks up in the second half. Saudi Arabia has posted its smallest quarterly budget deficit in more than two years, with the figure shrinking to just $1....
Volume: 64Issue: 32Published at Fri, 13 Aug 2021 -
Egypt’s Debts To IOCs Again On The Rise
...w Cairo wrack up arrears of over $6bn by mid-2014 (MEES, 8 August 2014). A $12bn IMF program agreed in late 2016 brought financial stability: receivables fell to $900mn by mid-2019 and just $200mn by January this year. The Covid-19 pandemic now risks a return to the bad days. Receivables owed le...
Volume: 63Issue: 32Published at Fri, 07 Aug 2020 -
Algeria’s Trade Balance Worsens As Government Ponders Austerity Policy
...ocess looks set to be lengthy. The value of Algerian exports fell by 33% to $12.68bn in the first half of 2016 from $18.93bn in the corresponding period of 2015. This equates to $25.36bn on an annualized basis, down by 33% on 2015 and 60% of 2014 (see table). Oil and gas export earnings in the first si...
Volume: 59Issue: 32Published at Fri, 12 Aug 2016 -
Libya Looks To Recover Overseas Cash
...mbia and Niger – is the latest in a series of LIA court actions as part of a renewed effort to exert some authority over the fund and its assets, at a time when the country’s financial resources are dwindling rapidly. According to Hasan Buhadi, the chairman of the LIA appointed in October 2014 by th...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Iran Slashes Cash Handouts In Bid To Balance Books
...dent critic of the Ahmadinejad administration, said last year that only 3% of privatization transactions under the program to sell off state assets were “real deals” (MEES, 21 March 2014). ...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Jordan Taps Bumper Aid; IMF Praises Energy Policy
...11 Egyptian revolution and discontinued in early 2014. As a result the National Electric Power Company (Nepco) had to shift to the more expensive liquid fuels, raising the company’s debt to JD4.6bn ($6.5bn) by end-2014 (MEES, 3 April). But with international oil prices having halved over the last ye...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
SAMA Plans More Debt
...evious four months of 2015, local investment bank Jadwa reported in its July update on the kingdom. Growth in credit to the private sector rose by 12.1% in 2013, 11.9% in 2014 and a projected 10.4% in 2015....
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
IMF: Politics Threatens Lebanon’s Economy
...clude 272MW of diesel-fired capacity installed by Denmark’s BWSC at Zouk and Jiyyah power plants for 2014 start-up (MEES, 19 July 2013), plus a second power barge of 95MW capacity from Turkey’s Karkey Karadeniz (MEES, 12 April 2013). Supplies typically cover only 18 hours per day, with frequent bl...
Volume: 57Issue: 32Published at Fri, 08 Aug 2014