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Hopes For Libyan Unity Fade In Wake Of Flooding Disaster
...untry’s east since 2014 (MEES, 22 May 2020), the flooding disaster has offered an opportunity to leverage the new state of emergency to empower his sons and support their political ambitions, further strengthening the Haftar family’s grip on eastern Libya. The ailing 79-year-old patriarch, who an...
Volume: 66Issue: 41Published at Fri, 13 Oct 2023 -
LNG Drives Record Qatar Export Revenues
...nths. As a result of this lag, August’s LNG prices were set by oil prices from March and April. These were the first months since 2014 when Brent crude averaged in excess of $100/B, and with monthly prices peaking at $117.5 in June, Qatar could well secure further revenues gains in September and Oc...
Volume: 65Issue: 41Published at Fri, 14 Oct 2022 -
Algeria’s Economic Rebound: Can It Seize The Moment?
...I and diversify the economy? Algeria is set for its first trade surplus since 2014 as higher oil and gas prices coupled with a boost in export volumes drag its economy out of an abyss. If the latest estimates from Algerian officials prove correct, a surge in exports to $37.5bn is set to result in...
Volume: 64Issue: 41Published at Fri, 15 Oct 2021 -
Iraq’s Economy Teeters Despite Q3 Revenue Rebound
...ll below 3mn b/d for the first time since 2014 (see chart). If one sums up the extent of Iraq’s economic woes, it is that $43bn is far short of the $50bn earmarked this year for the bloated public sector’s ‘salaries and pensions’ alone (MEES, 8 May). Given Prime Minister Mustafa al-Kadhimi’s pr...
Volume: 63Issue: 41Published at Fri, 09 Oct 2020 -
Can A New Government Salvage Iraq’s Economy?
...idar al-Abadi did in 2014 when Islamic State (IS) was running rampant (MEES, 26 September 2014). The next PM will, however, have to deal with the reconstruction following the devastating conflict with the group, and that is going to cost a lot of money. As much as $88bn. The next government wi...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Algeria Reverses 2017 Austerity In Free-Spending 2018 Budget
...15 2014 2013 REVENUE (AD BN) 6,497 +15.3 +10.4 +36...
Volume: 60Issue: 41Published at Fri, 13 Oct 2017 -
Algeria Gets Real With $50/B 2017 Budget Oil Price
...the same period a year earlier which in turn was 40% below 2014 levels. An indication of just how dependent Algeria is on hydrocarbons is that even with the revenue collapse oil and gas still provided 94% of export revenue: the figure was 97% in 2014. Algeria recorded a trade deficit of $14bn in...
Volume: 59Issue: 41Published at Fri, 14 Oct 2016 -
Gulf Equity Markets: Change Is Afoot
...itical mass. But UAE markets are now much more developed than in 2008. The investor base is more sophisticated, including an openness to international investors, especially after the country’s inclusion into the MSCI and FTSE emerging markets indexes. IN FROM THE FRONTIER In May 2014, global in...
Volume: 59Issue: 41Published at Fri, 14 Oct 2016 -
IMF: Reforms Key If Iran To Benefit From Nuclear Deal
...facing the problem of high non-performing assets” which have resulted in unsustainably high real interest rates and stagnant credit in the economy. Unemployment has remained at 10.5%, level with December 2014. OIL: THE DRIVER The IMF says the Iranian economy may have contracted during the fi...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
Oman: Debut Sukuk
...gher growth trend of 4.9% on average between 2005 and 2014. Offsetting this strength is the likely sharp fall in nominal GDP in 2015, as a result of the collapse in oil prices. Moody’s base case scenario for oil market trends is a Brent crude oil price of $55/B on average in 2015, rising gradually to...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
Egypt Bags More Aid Amid Gaping Budget Deficit
...just over $39bn (see table). As a percentage of GDP the figure is also down from a sky-high 13.7% for 2012-13. For the current July 2014-June 2015 financial year Egypt is budgeting for a further fall in the deficit to E£240bn ($33.7bn), down around 14% in real terms. The Finance Ministry sa...
Volume: 57Issue: 41Published at Fri, 10 Oct 2014 -
Algeria Stares Deficit In The Face
...ALGERIA Algeria’s trade surplus in the first eight months of 2014 has fallen by 20.4% to $4.67bn from $5.87bn in the corresponding period of 2013, official customs statistics show. In 2013 the trade surplus fell to $11.1bn from $21.49bn in 2012. As recently as February the IMF pr...
Volume: 57Issue: 41Published at Fri, 10 Oct 2014 -
Algeria’s 2014 Draft Budget Ups Deficit By 12.4%
...ALGERIA Algeria’s 2014 Draft Budget Ups Deficit By 12.4% Algeria’s 2014 budget indicates a deficit of AD3,438bn ($43.6bn at $1=AD78.8), up 12.4% on 2013. The 2014 deficit will represent 18.1% of GDP, up from 12.8% for 2013. The draft law was presented to parliamentary co...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
IMF Downgrades MENA Growth Forecasts
...REGIONAL IMF Downgrades MENA Growth Forecasts Real GDP growth in the MENA region is expected to decline to 2.1% in 2013 from 4.6% in 2012, before rising to 3.8% in 2014, according to the IMF latest six-monthly World Economic Outlook released on 8 October. The 2013 pr...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Kuwait Finance Minister Calls For Leaner Public Sector And Reforms
...10 2011 *2012 *2013 (P) 2014(P) Oil and gas exports ($bn) 82.6 48.9 61.8 96.7 11...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013