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Algeria Facing Fiscal Vulnerabilities Despite Recovery, IMF Warns
...y risks that include “global trade disruptions, conflicts including in the Middle East, and related commodity price volatility,” among others. 1: ALGERIA’S OIL OUTPUT IS DOWN 300,000 B/D SINCE THE LAST BID ROUND IN 2014, WITH THE FALL ONLY PARTLY DUE TO OPEC+ OUTPUT RESTRICTIONS* (‘00...
Volume: 68Issue: 39Published at Fri, 26 Sep 2025 -
Oman Wields Oil Profits To Slash Debt In Fiscal Reform Push
...in shocks of the 2014-15 oil price crash and then the Covid-19 pandemic, the recently enthroned Sultan Haitham bin Tarik Al Said at the end of 2020 moved ahead with a series of reform packages to reorient the national economy (MEES, 17 September 2021). Oman is now more than halfway through the Medium Te...
Volume: 66Issue: 39Published at Fri, 29 Sep 2023 -
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 Oil Addiction Deepens Despite Ambitious Reform Drive
...s despite average annual oil prices nearly halving against 2014. Saudi Arabia’s trade surplus was decimated accordingly (see table). More than a year after Vision 2030 was launched, very little has changed. Non-oil exports account for less than 25% of the total and after falling in value for the la...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Egypt: Economy Looking Up But Long Road Ahead
...ggest an annual figure of around $7bn based on normal seasonal trends – still below 2015 levels but almost double last year and still above 2013 and 2014 (see chart 3). FOREIGN RESERVES RIDING HIGH Aid from the IMF, the World Bank and other donors, as well as capital inflows from various sources ha...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Saudi Takes First Steps To Rein In Bloated Public Sector
...blic Investment Fund (PIF) which in turn is expected to spend money in the economy and boost domestic liquidity. Although the plunge in oil prices has seen government revenues collapse from $279bn in 2014 to just $137bn under the 2016 budget, spending has fallen by much less. It has fallen just $69...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
Iraq Plans For $42/B In 2017, Exports At 3.75mn b/d
...y the capital investment budget, the government will borrow ID6.5 trillion ($5.6bn) in order to make loans to businesses in agriculture, industry and housing. The government exhausted its own cash reserves in 2014, and has been able to continue paying public sector salaries – unlike in the KRG – on...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
IMF Calls On Kuwait To Cut Spending As Lower Oil Prices Linger
...owed growth in 2014-15 to almost zero, the IMF says. The slide in oil prices to below half year-ago levels saw the emirate post an ‘actual’ budget deficit for the first time since 1999-2000 as crude revenues for the year ending 31 March 2015 fell to KD22.5bn, from KD29.5bn in the previous year. In it...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
US Pledges $400mn Aid To Jordan
...ama and the Jordanian monarch in December 2014. Acknowledging the role of Jordan in accommodating displaced Syrian refugees, the White House announced it will grant Jordan a further $44mn to help with the refugee effort. These pledges come in addition to the $250mn financial package by the World Ba...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Libya: Slashed Oil Exports Leave $16Bn Budget Hole
...asons for this deficit. However the reasons aren’t hard to figure out. The country has been wracked by political instability bordering on civil war for most of the year so far. Oil output for the first eight months of 2014 averaged only 320,000 b/d, and whilst volumes have increased in recent weeks th...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
IMF Calls For Hike In Saudi Energy Prices
...atistics. Crude Volumes Down, Prices Down Too Saudi crude oil exports fell by 2.4%, or 175,000 b/d, to 7.252mn b/d in the first seven months of 2014 from 7.427mn b/d in the corresponding period of 2013. Given that average prices for Saudi crude have also fallen moderately over the same period crude ex...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014 -
APICORP Assets Hit $5bn
...cus on growing trade finance activities in the region, In the fourth quarter of this year, APICORP will be conducting an extensive exercise to develop a new five-year strategic plan for 2014-18 that will further support our mandate of raising capital access and enhancing the financial performance of th...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
Lebanon Seeks Aid
...5Bn The fallout from Syria’s conflict will cost Lebanon $7.5bn in cumulative economic losses by end-2014 ($1.1bn in 2012, $2.5bn in 2013 and up to $3.9bn in 2014), according to a World Bank report prepared ahead of the planned donors’ meeting on the crisis. “With the escalation of the Syrian co...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013