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Saudi Arabia Bags $118bn Trade Surplus In 9M 2018
...Falling oil prices since October augur Q4 reversal. Saudi Arabia’s export revenues over the first nine months of 2018 are already within touching distance of the full year 2017 figure. The kingdom’s latest trade data shows that export revenues over the period are up nearly 27% ($58.7bn) ye...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Jordan Budgets For Lower Deficit, Cost Rationalization In 2018
...venues. Unveiling the draft budget to parliament on 25 November, Finance Minister Umar Malhas, said that the deficit (after foreign grants) is projected to fall to JD543mn ($766mn at JD1=$1.41), or 1.8% of GDP in 2018 from the revised JD752mn, or 2.6% of GDP in 2017. Budget expenditure in 2018 will ri...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
Saudi Cash Injection: Better Late Than Never
...pect banks’ operating environment to remain challenged by low non-oil GDP growth of 0.8% this year and 2.0% in 2017, versus the 2010-15 average of 6.2%, these developments should provide a boost to the system liquidity. This, in turn, will support banks’ funding and profitability in 2017,” Moody’s sa...
Volume: 59Issue: 48Published at Fri, 02 Dec 2016 -
Algeria Raises More Taxes In 2017 Austerity Budget
...Algeria is raising more taxes and cutting spending in its 2017 austerity budget which was approved on 22 November by parliament, in a bid to offset the fall in oil revenue from lower oil prices. The budget still needs the green light from the Algerian Senate. Only some details about the in...
Volume: 59Issue: 48Published at Fri, 02 Dec 2016 -
Tunisia Bags $10bn Aid
...is shortfall. The 2017 budget deficit is projected to fall to TD5.4bn ($2.3bn) according to the budget law. Tunisia plans to tap the international debt market with a €1bn Eurobond in January to cover the budget deficit, according to a government source. In August it raised a $500mn five-year Eu...
Volume: 59Issue: 48Published at Fri, 02 Dec 2016 -
Qatar Looks Resilient To Lower Oil Prices
...ile lower oil prices will sooner or later feed through into lower LNG revenue, Qatar, with its already established infrastructure, is in a much stronger position than the nascent competition. Australia is set to overtake Qatar as the world’s number one LNG producer by 2017 on their way to pr...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Jordan Moves Toward Austerity In 2015
...760mn) for current spending an JD1,175mn ($1,657mn) for capital expenditure. With inflation estimated at 2.4% in 2015, total spending is slated to rise by less than 1% in real terms. Real GDP is expected to grow at 4% in 2015 and 4.5% in each of 2016 and 2017. The Economy In 2014 Reviewing the cu...
Volume: 57Issue: 48Published at Fri, 28 Nov 2014 -
Kuwait 2012-13 Budget Maintains Record Spending
...ternational Monetary Fund (IMF) in May this year said that Kuwait’s spending is unsustainable and warned that “government expenditure will exhaust all oil revenues by 2017” and that fiscal consolidation is needed in the medium term if current trends continue. But this was dismissed by economists who ma...
Volume: 55Issue: 48Published at Fri, 23 Nov 2012