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Egypt: Current Account Deficit Soars Amid Tourism Collapse & Record Trade Bill
...overall surplus of $1.9bn for 2020-21, the first such surplus since 2017-18, thanks to a 4-year high $18.3bn of “grants and other net investment” (see chart 4). 4: EGYPT’S BALANCE OF PAYMENTS SWUNG TO A SURPLUS FOR 2020-21 MAINLY DUE TO AN INFLOW OF IMF CASH, HELPING OFFSET A RECORD CU...
Volume: 64Issue: 42Published at Fri, 22 Oct 2021 -
Pakistan’s Oil & Gas Imports: Gulf Dependence Intensifies
...minant. Given the dire state of relations between Qatar and the other two since 2017 this has at times put a strain on Pakistan’s regional diplomacy. Pakistan imported just shy of 400,000 b/d of crude and key oil products in the financial year to June 2019. Of this, over 94% came from Gulf countries wi...
Volume: 62Issue: 42Published at Fri, 18 Oct 2019 -
US Crude Still Big In Asia But China Volumes Fall To Zero
...r January-August). As for Iran, though August volumes were down on the January-August average (578,000 b/d), they are actually slightly higher than the 2017 average of 484,000 b/d. That each of India’s top three suppliers saw volumes dip in August is in part a function of US volumes which hi...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Iran’s Budget Deficit Set To Soar To $13.3bn This Year
...Iran is on track to record a steep increase in its budget deficit to $13.3bn in the fiscal year 2017-18 (from 21 March), up 39% from last year’s $9.6bn deficit (MEES, 21 July). This is based on government figures for the first five months of the year, when Iran already racked up a $5.6bn de...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Saudi Launches Record Breaking Bond Sales
...nk Jadwa estimated that energy subsidies had cost the Saudi government $61bn (9.3% of GDP) in 2015 (MEES, 8 January). The IMF estimates that the increase in energy and water prices to international/cost recovery levels over the five-year period 2017-21 would generate gross revenue gains of SR...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
Egypt: Desperately Seeking Finance
...serves. These reserves, which stood at some $36bn before the 2011 revolution, have fallen to $16.3bn at the end of September, down $1.8bn from the previous month. Egypt needs $10bn for both 2016 and 2017 to meet its “financing needs”, according to IMF regional director Masood Ahmed. He says that th...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Riyadh Eyes $4bn Local Currency Bonds
...rned to borrowing from the domestic market by issuing local currency bonds, which are expected to raise $27bn by year-end. But now there is speculation in Riyadh that in 2016 and 2017 the government will turn to the international market, especially if oil prices remain depressed for an extended period....
Volume: 58Issue: 42Published at Fri, 16 Oct 2015