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Libya Oil Revenues Soar But Still Short Of Central Bank Target
...VENUES* AT $11.6BN IN THE FIRST SEVEN MONTHS OF 2021 ARE ALREADY DOUBLE THE FULL YEAR 2020 FIGURE OF $5.9BN *CBL 'OIL REVENUE' NUMBERS USED BETWEEN 2011 AND 2017 DUE TO ABSENCE OF NOC DATA. ^INCLUDES GAS EXPORT REVENUE, PRODUCTS SALES. ^^INCLUDES SMALL VOLUMES OF CONDENSATE. SOURCE: OPEC ASB, CB...
Volume: 64Issue: 34Published at Fri, 27 Aug 2021 -
Kuwait Faces Cash Crunch As Oil Crisis Bites
...ere is a high turnover of governments. One key piece of legislation which the government has tried and failed to get through parliament in recent years is a new debt law (MEES, 16 June 2017). Until this is passed, Kuwait is unable to emulate fellow GCC states and borrow in order to meet the budget de...
Volume: 63Issue: 34Published at Fri, 21 Aug 2020 -
Record Products Sales And VAT Bolster Saudi Economy
...ar. The narrowing budget deficit came despite Riyadh following through with its pledged spending spree (MEES, 22 December 2017). The $75bn Q2 outlay was $19bn more than 2Q 2017, although still well below 4Q 2017’s $96bn. Overall, the kingdom ran an $11.1bn deficit over the first half of 2018 pu...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Oman Set To Shrink Deficit, But Not By Much
...urces of finance in a bid to plug its 2017 deficit. It hit the market for a $5bn conventional bond in March (MEES, 10 March) and raised $2bn from its first ever international Sukuk in late May (MEES, 9 June). This seemed more-or-less sufficient to cover the OR3bn deficit ($7.8bn at a fixed OR1=$2....
Volume: 60Issue: 34Published at Fri, 25 Aug 2017 -
Iraq Cuts 2017 Project Spending
...Iraq’s Planning Ministry has axed 296 projects worth $9bn and postponed a further 2,169 worth $31bn from the 2017 investment budget in a bid to slash public spending, ministry spokesman ‘Abd al-Zahra al-Hindawi says. At the same time Baghdad needs to secure funding for some 4,500 ongoing pr...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016 -
Iraq Faces ‘Existential Threat’ From ‘Double Edged Crisis’ - IMF
...ice of $54.7/B for 2015, $62/B for 2016 and $67.1/B for 2017. However “risks remain very high… emanating from an extension of the conflict, political tensions, weak policy implementation and further shocks from the oil market,” the fund says. Even on the prospects of oil output and exports ramp-up...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015 -
IMF Warns Of Looming Large Saudi Deficit
...rther $5/B rise in 2017 (an average Iraqi crude export price of $54.7/B for 2015, $62.0/B for 2016 and $67.1/B for 2017 – see p20). The IMF acknowledges that “uncertainties about future oil prices and possible escalations of regional tensions are the main risks to the outlook.” The current ac...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015