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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 -
Libya: Central Bank ‘Budget’ Poses More Questions Than Answers
...ternal or external obligations incurred by the Baida-based administration. TERRITORY DOWN, SPENDING DOWN So the fact that spending is, according to the CBL figures, down by 37% from January-July 2014, and by a massive 52% from the same period in 2013, reflects the fact the spending figures for Ja...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Lebanon To Tap Bond Market For $1.3bn As IMF Warns On Debt Levels
...e political deadlock, EFG Hermes says in a recent report. This inflow was estimated at $7.7bn in 2014, according to the World Bank (MEES, 27 February). The country has been without a head of state since President Michel Sulaiman’s term expired in May 2014, and parliament has been unable to agree on...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
UAE Trims Market-Linked Fuel Prices
...ckling high energy consumption through a conservation campaign begun in 2014. Last week Riyadh told the IMF that it does not intend to adjust energy subsidies until a national public transport system is completed (MEES, 28 August). Kuwaiti finance ministry official Khalifa Hamadah told the Kuwait Ti...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Egypt Cuts Tax Ceiling
...0,000. As part of the same move, Egypt has also suspended for two years a 10% tax on capital gains and abolishes the supplementary tax levied on individual incomes exceeding E£1mn introduced in 2014-15 (MEES, 13 June 2014). The amendment is intended to make the taxation system more progressive and to re...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Algeria Budgets For Higher Spending In 2015
...onomic action” program. GDP growth for 2014 is expected to come at around 4.5%. At the cabinet meeting President Abdelaziz Bouteflika said that the state’s efforts to boost growth through government spending should be supported by a stronger contribution to the productive sectors, as well as to the di...
Volume: 57Issue: 36Published at Fri, 05 Sep 2014 -
Syria Eyes Iran For More Aid
...ria’s oil production from government controlled fields has fallen in the first half of 2014 to around 4.4% of its pre-war level of 385,000 b/d. IS alone is reported to control up to 60% of Syria’s oil output from the captured fields; although, whilst IS is producing and exporting crude (and selling vo...
Volume: 57Issue: 36Published at Fri, 05 Sep 2014 -
IMF Releases $217Mn For Tunisia
...ansition with the advent of elections in the last quarter of 2014,” but he warns the economic situation remains difficult, with timid growth, high unemployment, and rising external imbalances which are piling pressure on the exchange rate and reserves. “Program implementation is strong” with “all qu...
Volume: 57Issue: 36Published at Fri, 05 Sep 2014