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UAE Plans 3% Spending Cut For 2017
...nstruction sector in Dubai has been a key driver of non-oil growth in the UAE, although activity in this sector has slowed down in the past two years or so. According to an FT report in July, property prices in Dubai have fallen by around 25% since their most recent peak in 2014, but remain above their 2011 tr...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016 -
Russia Denies Syria $1bn
...plemented by Russian companies. Russia has provided Syria with economic and military aid, as well as political support, since the beginning of the uprising in Syria in early 2011. In particular, together with Syria’s other strategic ally, Iran, it has provided Syria with oil products. Russian credit to...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
GCC Countries Face Up To Falling Oil Prices
...porters: Fiscal Breakeven Oil Price ($/B, IMF Estimates) 2011 2012 2013 2014* 2015* Algeria 109.7 12...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
GCC Ramps Up Aid
...ve been hard hit by the ongoing economic malaise in the EU, traditionally both the largest source of investment and their key export market. Lebanon and Jordan have been hit by spillovers from the war since 2011 in neighboring Syria. Though overall official external aid to these countries has mo...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Syrian Economy Incurs $103Bn Losses
...fect of sanctions.) Oil Output Plummets In September oil production under government control was estimated to have hit a low of 19,000 b/d of light crude and condensate, compared to an average of 380,000 b/d before the start of the uprising in March 2011 (MEES, 4 October). Gas production in...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
UAE Issues 2014 Budget
...proved a three-year federal spending plan of Dh140bn ($38.1bn) for 2014-16, a 15% increase on the previous plan for 2011-13 (MEES, 9 November 2012). The three-year plan, first introduced in 2011, was intended to achieve sustained growth under the state’s strategic plan. The 2014 budget just announced is...
Volume: 56Issue: 44Published at Fri, 01 Nov 2013 -
Iran’s Inflation Rate Rises To 24%
...leasing its inflation figures, the CBI has to clear them with a government office, the Supreme Council of Statistics (MEES, 11 July 2011). The latest inflation figure is absurdly low, considering that last December the head of parliament’s Research Center, Ahmad Tavakoli, estimated the inflation rate then at...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Iraqi Cabinet Approves 2013 Draft Budget
...5,000 b/d from the KRG, with a budget oil price of $85/B, up from $76.5/B in 2011 (MEES, 12 March). Mr Dabbagh added that the 2013 budget deficit will be covered by unused funds from the 2012 budget, funds in the Development Fund of Iraq (DFI) account with the New York Federal Reserve, local debt raised th...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Algeria’s 2013 Draft Budget Projects Lower Spending
...udence” but not austerity. The government had earlier indicated that even if oil prices were to dip, the budget will not require the introduction of wage cuts or reduction of subsidies and social transfers. To avoid unrest and appease public grievances the government in 2011-12 had increased its social sp...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012