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  1. Kuwait Slashes 2018-19 Deficit Thanks To Higher Oil Prices

    ...P. Kuwait’s economic performance has been lackluster since oil prices slumped in late 2014. Real GDP contracted by 3.5% in 2017, before rising by 1.7% in 2018 and a forecast 2.5% in 2019, according to the IMF. The World Bank is more pessimistic, forecasting growth of just 1.6% for 2019.      For th...

    Volume: 62
    Issue: 33
    Published at Fri, 16 Aug 2019

  2. Oman: Oil Prices Bolster Economy, For Now

    ...ternational observers are nonetheless troubled by the underlying economics—a fact reflected in rating agencies’ decision to downgrade Oman’s economic outlook several times following the 2014 oil price crash (MEES, 24 November 2017). S&P rates Oman as ‘junk’ status. Unlike fellow GCC members, Oman’s more mo...

    Volume: 61
    Issue: 33
    Published at Fri, 17 Aug 2018

  3. IMF Loan To Egypt Will Need To Be Supplemented With Serious Reforms

    ...more than a decade (see p16). Egypt has cut its spending on petroleum subsidies by 23% from E£71.5bn in 2014-15 to E£55bn in 2015-16, with a further cut to E£35bn projected in the 2016-17 budget, according to state-oil firm EGPC.  ...

    Volume: 59
    Issue: 33
    Published at Fri, 19 Aug 2016

  4. Iraq ‘Below Investment Grade’ Ahead Of Bond Issue

    ...ttlenecks remain a constraint and investment plans were set back by payment arrears in 2014,” Fitch adds. The rating agency notes that the fiscal position has deteriorated rapidly since 2013, with double-digit fiscal deficit forecasted for 2015, as a result of lower oil prices, higher military spending an...

    Volume: 58
    Issue: 33
    Published at Fri, 14 Aug 2015

  5. Saudi Turns To Debt Market

    ...nds, a board member of Bank Albilad says. Other bankers have expressed concern however that this could tighten liquidity in the sector over the coming months. Given the low level of public debt in Saudi Arabia – SR44bn ($11.7bn) at the end of 2014, or 1.6% of GDP – bankers are not overly concerned ab...

    Volume: 58
    Issue: 33
    Published at Fri, 14 Aug 2015

  6. Saudi Set For $28bn 2014 Surplus

    ...SAUDI ARABIA Having penciled in a balanced budget, Saudi Arabia is set to post a surplus of SR104bn ($27.7bn), or 3.5% of GDP, for 2014, according to local investment bank Jadwa. Jadwa projects 2014 revenue at SR1,174bn ($313bn) and expenditure of SR1,070bn ($285bn), 37% and 25% re...

    Volume: 57
    Issue: 33
    Published at Fri, 15 Aug 2014

  7. Oman Export Income Down

    ...ile oil revenues were down 4.7% to OR2.587bn ($6.73bn) in this period versus 1Q14, gas revenues were up 6.85% to OR 363mn ($940.1mn). Yet despite the drop in overall hydrocarbon revenue, Oman is on target to post a surplus for 2014. The Q1 figures imply total 2014 hydrocarbons revenue of OR...

    Volume: 57
    Issue: 33
    Published at Fri, 15 Aug 2014

  8. Jordan: $1bn Eurobond

    ...th principal and interest (MEES, 13 June).  Jordan is set to post a deficit of JD1.114bn ($1.570bn, 4.3% of GDP) for 2014, and has to borrow from domestic and international capital markets. Spending is stretched by Jordan’s hosting of over 1 million Syrian refugees. It is also implementing IM...

    Volume: 57
    Issue: 33
    Published at Fri, 15 Aug 2014