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Algeria’s Risky ‘Cash Creation’ Plan: From One Pocket To The Other
...ree years. Algeria’s hydrocarbon-dependent economy has been hit hard by the collapse in oil prices since the second half of 2014; its hydrocarbons revenue fell to just $27.1bn last year from $71.4bn in 2011, though recent oil price rises mean it may just avoid a third straight $10bn-plus trade de...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Saudi Raises Bumper $12.5bn International Bond
...ndraising to finance its fiscal deficit rather than deplete its foreign exchange reserves. But though the rate of decline here has slowed, Saudi reserves continue to fall, hitting $487.7bn at end-August, the lowest level since early 2011 and down a third from $732bn at end-2014. In addition to the la...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Crisis-Proofing Middle East Oil Exporters’ Purchasing Power
...nance social welfare and infrastructure investment. The anxiety over popular discontent prompted the kingdom to increase social spending by $130bn following the ‘Arab Spring’ of 2011. Such expenses will only become more costly if alternative sources of revenue, such as manufacturing, tourism, and fi...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
Kuwait To Save 25% Of Its State Revenue
...ctors, among others. According to statistics on the closed accounts from the finance ministry, Kuwait realized a budget surplus of KD10.205bn ($36.3bn) in 2011-12 instead of the projected deficit of KD7.334bn ($26.1bn). In fact these statistics also show that all Kuwaiti budgets since 2000 ha...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
Egypt Puts Foreign Borrowing Needs At $10Bn
...d/or bonds, as well as sukuk (MEES, 6 August). Last week, the ministry issued treasury bills worth E£4bn ($657mn) with a 14.465% coupon to raise funds domestically. The minister noted that the preliminary closed accounts show that the 2011-12 budget had realized a deficit of E£170bn ($27...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012