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Kuwait Sees Eighth Consecutive Deficit Despite Oil Revenue Surge
...tween the legislative and executive branches of government. Even a debt law required to ease the government’s reliance on direct oil revenues by tapping into its dollar reserves has been stuck since October 2017. Kuwait’s bloated government expenses have depleted its General Reserve Fund (GRF) by some KD...
Volume: 65Issue: 47Published at Fri, 25 Nov 2022 -
Iran Gasoline Prices Hike Fuels Nationwide Protest
...an the large demonstrations of December 2017 when 22 people were killed in many cities and towns in protest against poor living conditions (MEES, 19 January 2018). The Ministry of Interior warned the protesters that security forces will step up action against them to restore calm if their “il...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Iran Crude Exports Go Dutch?
...Rotterdam, was long the key international trader in Iranian products: in January 2017 it inked a $1bn pre-finance deal with Tehran to be repaid from products exports. However former CEO Ian Taylor explicitly told MEES in October 2018 that the firm had no intention of trading with Iran under US sa...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Oman Economy Set For Strong 2018 Finish
...er the same period last year – a 46% decrease that reflects the all-powerful role international oil prices play in Muscat’s economic wellbeing. If the government can keep end-year spending under control, MEES estimates a full-year deficit of around $5.5-6bn versus $9.76bn in 2017. Such a su...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Iran’s Deficit Soars As Economy Sags
...$1=IR42,000). This shortfall is more than twice the projected deficit of IR164.5 trillion for that period. Indeed, it has already exceeded the projected full year deficit of IR322 trillion. Iran posted a budget deficit of $8.2bn in 2017-18 (IR 270 trillion; MEES, 20 July). To plug the 1H deficit th...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Saudi Deficit Set To Fall 50% In 2017
...Higher oil prices mean Saudi Arabia is on track to halve its deficit to $42.5bn for 2017, the lowest figure since 2014. Latest figures for the first nine months of 2017 show revenue rising by 23% year-on-year thanks to a 32% increase in oil prices (from $38.6/B to $50.9/B). For 2017 as a wh...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
Saudi Delayed Payments Risk Slowing Economy Further
...nth confirmed that the Petro Rabigh 2 expansion had been pushed back to the second half of 2017 due to delays in the schedule and scope changes in the work program (MEES, 7 October). A contractual dispute with South Korea's SK Engineering & Construction led to the 400,000 b/d Jazan refinery being pu...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Lebanese Politicians Pass Essential Financial Laws
...oductive cabinet. LEBANON: KEY ECONOMIC INDICATORS -IMF 2011 2012 2013 2014 2015 est. 2016 est. 2017 est. GDP Gr...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015