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Lebanon Declares ‘State Of Economic Emergency’
...the honor of the third highest debt-to-GDP ratio in the world (around 150%; behind only Greece and Japan). Low growth since 2011 – about 1.4% annually, due in large part to the outbreak of war in neighboring Syria – has merely exacerbated the problem. Through remittances, foreign direct in...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Japan Set To Follow South Korea and France In Halting Iran Oil Imports
...lumes from 2011 levels, with further cuts in 2014. But India and China, having made more modest cuts in 2012 and 2013, all-but reversed these in 2014 when it became clear that then US President Obama was keener to avoid conflict than enforce sanctions (see chart and MEES, 6 February 2015). This ti...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
IMF To Assist Egypt In Raising Bilateral Aid
...e first seven months of 2016, down 2% from the same period of 2015 and 7% from the same period of 2014 (see chart 2). At least this ‘fall’ can be put down to the strength of the dollar. The same cannot be said for tourism revenues which have been in free fall since the January 2011 revolution. Re...
Volume: 59Issue: 36Published at Fri, 09 Sep 2016 -
Syria Eyes Iran For More Aid
...lumes to the Assad regime) its output volumes are thought to be way below nominal capacity levels (MEES, 25 July). Currency Pounded The local currency, which has depreciated since early 2011, has of late come under renewed pressure, losing value on both the official and black markets. On the of...
Volume: 57Issue: 36Published at Fri, 05 Sep 2014 -
Kuwait Budget Surplus Falls As Spending Soars
...KUWAIT Kuwait Budget Surplus Falls As Spending Soars Kuwait realized a budget surplus of KD12.70bn ($44.45bn) in 2012-13, according to the finance ministry’s closed accounts. However, the net surplus falls to KD4.7bn ($16.45bn) – less than half the 2011-12 figure – after th...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
Oman Cuts Deficit
...OR6.1bn ($15.9bn). The 2012 budget was based on an oil price assumption of $75/B and average production of 915,000 b/d. The actual price for Oman’s crude in 2012 was around $109/B whilst production was well up on 2011’s 885,000 b/d. Gas revenue was level with the projected OR1.5bn ($3....
Volume: 56Issue: 36Published at Fri, 06 Sep 2013