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Iran Offers Big Discounts To Retain Customers
...dn’t have to cut prices to such levels even during the previous tightening of sanctions from 2011-2016 (see chart 1). Iran’s five key Asian buyers took 1.66mn b/d for 2017, 68% of Iran’s 2.46mn b/d crude and condensate sales, highlighting their critical importance to the Iranian economy. In 2011, th...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Egypt Struggles To Raise Money For Imf ‘Bilateral Financing’
...mewhat from $39.1bn for 2014-15 to $37.6bn for 2015-16 due in part to sustained low oil prices. • With the rise in the current account deficit, Egypt’s foreign exchange reserves remain under pressure. The $16.6bn end-August figure is less than half their level before the January 2011 revolution....
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Syrian Economy Permanently Degraded
...aces block-to-block, along lines foreign to Syrians as recently as 2011. The extremists of the Islamic State control large swathes of territory in the east of the country. Kurdish militias have carved out enclaves for their constituents. The regime controls the capital, the coast, and several of the ke...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Algeria Maintains High Defense Spending In 2015
....3bn) is up 9.6% on the 2014 budget in nominal terms, following a higher increase still of 15.7% over 2013. The budget allocations for defense spending surged in 2011 by 49.5% over 2010. Total expenditure in the draft bill is projected to increase by 15.7% to AD8,858bn ($112.1bn), while total re...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014 -
Sudan Delays Ending Fuel Subsidies
...er implementation of the controversial policy. Sudan’s economy is still reeling from the significant drop in state revenues associated with the loss of around 75% of its former 450,000 b/d crude oil production when South Sudan seceded in July 2011 (MEES, 11 July). Oil income was – and still is...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Opposition Sees Imminent Collapse Of Syrian Economy
...serves at the start of the political turmoil in March 2011, according to officials and other analysts (MEES, 25 July 2011). Dr Qadi also noted that “the Syrian regime had obstructed the mechanisms of supply and demand before the revolution through monopoly, corruption, and the absence of an...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012