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Oman Achieves First Budget Surplus Since 2008
...n-hydrocarbon revenues of $8.36bn are also a record. Expenditure edged up this year to an estimated $33.99bn, from $32.25bn in 2021. But this was due to a $1.8bn increase in capital expenditure rather than an increase in subsidies or public sector wage bills. After ballooning to $39.4bn in 2014, Om...
Volume: 65Issue: 51/52Published at Fri, 23 Dec 2022 -
Saudi 2018 Budget Delays Austerity To Jump-Start Flat Economy
...ending set to hit the highest level since 2014, in a bid to revive its sluggish economy. Despite running up consecutive multi-billion-dollar deficits since 2014, the kingdom still has relatively low levels of debt, and is prioritizing ending its recession over balancing the budget in the near term. Th...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
Qatar Slashes 2017 Budget Deficit But Maintains Spending At High Levels
....5bn) from QR203bn in 2016, with revenue up 14.5% to QR170bn ($46.7bn) from QR143bn ($39.3bn). Minister of Finance Ali al-EImadi emphasized the importance of maximizing efficiency in current spending, as oil, and crucially LNG, prices are set to remain well below 2014 levels next year. But Qatar re...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
Kuwait Expects 2015-16 Deficit: $60/B Oil, 2.7Mn B/D Output
...w budget is provisionally based on an oil price assumption of $60/B and average crude oil production of 2.7mn b/d, compared to $75/B and 2.9mn b/d in 2014-15. More than 90% of budget revenue is derived from oil. For the first eight months of the current financial year (April-November 2014) Kuwaiti cr...
Volume: 57Issue: 51/52Published at Fri, 19 Dec 2014 -
Saudi Plans 2015 Counter-Cyclical Bumper Spend
...715bn ($191bn), based on an oil price assumption of $60-65/B. For 2014 the paper is projecting a smaller deficit of SR60bn ($16bn), although the original budget for that year was balanced at SR855bn ($228bn). For its part Saudi investment bank Jadwa is projecting two scenarios for baseline Brent cr...
Volume: 57Issue: 51/52Published at Fri, 19 Dec 2014 -
Egypt Gets Oil Price Bonus…
...ypt to international oil companies (IOCs) estimated by the government at $4.9bn in early December. Savings from cheaper oil imports will be reflected in a reduction in 2014-15 energy subsidies, projected at E£127bn ($17.7bn) - E£100bn ($14bn) for petroleum products and E£27bn ($3.8bn) for el...
Volume: 57Issue: 51/52Published at Fri, 19 Dec 2014 -
…But Algeria Under Pressure
...om $194bn at the end of 2013. Also the balance of payments recorded a deficit of $1.32bn at the end of June 2014, compared to a surplus of $880mn at the end of June 2013. Mr Laksaci says that although Algeria managed to maintain monetary and fiscal stability despite persistent budget deficits and we...
Volume: 57Issue: 51/52Published at Fri, 19 Dec 2014 -
Lebanon ‘Challenging’
...flow of Syrian refugees (around a quarter of the population now) is straining local communities and taxing already weak public finances. IMF official estimates put real growth remaining below 2% in 2014: insufficient to dent unemployment. Also the fiscal position has improved slightly, ac...
Volume: 57Issue: 51/52Published at Fri, 19 Dec 2014 -
MENA Economic Divergence Set To Widen In 2014-Fitch
...REGIONAL MENA Economic Divergence Set To Widen In 2014-Fitch Fitch Ratings expects sovereign creditworthiness in the Middle East and North Africa (MENA) region in 2014 to remain stable overall. However prospects are far more favorable for the region’s oil exporters than fo...
Volume: 56Issue: 51/52Published at Fri, 20 Dec 2013