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Algerian Draft Budget Projects Lower Spending In 2012
...Middle East Economic Survey VOL. LIV No 44 31-Oct-2011 ALGERIA Algerian Draft Budget Projects Lower Spending In 2012 The Algerian draft budget for 2012 projects a 10.2% fall in expenditure compared to the 2011 supplementary budget which had raised total expenditure from the or...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Dragon Oil To Hike Production 50% By 2015
...Middle East Economic Survey VOL. LIV No 44 31-Oct-2011 CASPIAN Dragon Oil To Hike Production 50% By 2015 Dragon Oil announced on 24 October that it will produce 70,000 b/d of crude by the end of 2011. It then plans to invest another $1bn over a four year period in order to re...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Flow Of Egyptian Gas To Israel Resumes, New Price Struck With Jordan
...th imports having averaged 240mn cfd prior to the start of the disruptions. According to the BP Statistical Review of World Energy 2011, Jordan imported from Egypt in 2010 a total of 2.52 bcm of gas. The agreement with Jordan is retroactive to January 2011 and gives Egypt the right to reconsider th...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Egypt Restarts Loan Discussions With IMF, Waits On Further Arab Aid
...cal debts would negatively affect both the country’s balance of payments and its budget deficit. Egypt’s deficit is now forecast to hit 8.6% of GDP in fiscal 2011-12, exceeding pre-revolution estimates. That said however, the IMF is yet to receive an official request from Egypt. “We have not re...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
New Government In Jordan
...Jordan. Mr Bakhit, who was appointed Prime Minister in late January 2011, had to resign after a wave of street protests against his government. Cabinet changing for King 'Abd Allah of Jordan is a frequent phenomenon, which he resorts to when public pressure from political groups in society intensifies. ...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
US Grants Jordan $300Mn In Aid
...rvices and financial sectors aimed at creating job opportunities and introducing economic reforms. Jordan has projected a budget deficit of JD1.16bn ($1.63bn) for 2011 and any foreign aid it receives during the year will be necessary to lower this deficit (MEES, 5 September). ...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Lebanese Finance Minister Sees Debt Rising To $60Bn
...Middle East Economic Survey VOL. LIV No 44 31-Oct-2011 Lebanon Lebanese Finance Minister Sees Debt Rising To $60Bn Lebanese Minister of Finance Muhammad Safadi has warned that the country’s public debt would grow to $60bn by the end of 2011, up from $52.6bn at the end of June, bu...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Omani Public Spending To Rise Yet Again In 2012
...owth in the region of about 10% for 2011,” he said. Latest official figures released by the Omani Ministry of National Economy meanwhile have revealed an increase of around 77% in Oman’s fiscal surplus in the first eight months of this year relative to last year’s corresponding period. Driven bo...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
MENA Facing Unparalleled Uncertainty, Says IMF
...sult of continued high energy prices. Real GDP growth is expected to pick up in 2011 – to almost 5% – then moderate to about 4% in 2012, said the IMF. For the GCC, growth is projected at more than 7% in 2011. The countries are providing continued support to the non-oil sector, which is projected to gr...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Syria Sees Budget Expenditure Rising Steeply In 2012
...Middle East Economic Survey VOL. LIV No 44 31-Oct-2011 syria Syria Sees Budget Expenditure Rising Steeply In 2012 The Syrian government on 20 October approved the draft budget for 2012, projecting a 58.8% increase in expenditure to S£1,326bn ($26.8bn) from S£835bn ($16.9bn) in 2011...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Moody’s Upgrades DEWA Rating On Revenue Climb
...WA [will] monitor the fluctuating fuel prices continuously, and the increase or decrease in the prices would be reflected in monthly bills. These two tariff modifications have brought and will continue to bring incremental revenues to DEWA,” Mr Nowak said. As of end-June 2011, the company reported co...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Moody’s Says Egypt Government’s Resignation Offer Is “Credit Negative”
...dex declined 2.3% on 10 October to its lowest level since March 2009. Meanwhile, GDP contracted 4.2% in 1Q11 and foreign direct investment (FDI) “completely collapsed” in 1H11, recording a small net outflow. The IMF sees the Egyptian economy growing at an “anemic” 1-2% a year in 2011 and 2012. “A ch...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Preliminary Estimate Of Arab Spring Cost Put At $56Bn
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 REGIONAL Preliminary Estimate Of Arab Spring Cost Put At $56Bn The macro-economic cost if the Arab Spring which saw the eruption at the beginning of 2011 of revolutions in Tunisia, Egypt and Libya in North Africa, Syria in th...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Morocco Top ‘Doing Business’ Reformer As Saudi Arabia Leads MENA Rankings
...om 136. But the report only covers regulations measured from June 2010 through May 2011. The report finds that six of the MENA region’s 18 business regulatory reforms made it easier to start a business. For example, Jordan reduced the minimum capital for company start-ups, and Oman’s new one-st...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Jadwa Raises Saudi GDP Growth Forecast To 7.1% On Higher Oil Production
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 SAUDI ARABIA Jadwa Raises Saudi GDP Growth Forecast To 7.1% On Higher Oil Production Riyadh-based Jadwa Investment has raised its projection for 2011 Saudi real GDP growth to 7.1% from 5.6%, as a result of an upward re...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Abu Dhabi’s IPIC Posts Strong 1H11 Results, Eyes $6.5Bn Gulf Refinery Investment
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 UAE Abu Dhabi’s IPIC Posts Strong 1H11 Results, Eyes $6.5Bn Gulf Refinery Investment Abu Dhabi’s International Petroleum Investment Company (IPIC) saw profits for the first half of 2011 nearly triple as the government-ba...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Arab Aid To Egypt Tops $1.5Bn So Far
...der to finance its budget deficit of E£134bn ($22.5bn) for 2011-12, Egypt would turn to local market funding by issuing treasury bills and bonds (MEES, 12 September). But Dr Biblawi has reportedly submitted his resignation on 11 October in protest for the mishandling by the Egyptian police of a de...
Volume: 54Issue: 42Published at Mon, 17 Oct 2011 -
Construction Of Jordan’s Oil Shale Power Plant To Begin In 2012
...Middle East Economic Survey VOL. LIV No 42 17-Oct-2011 Jordan Construction Of Jordan’s Oil Shale Power Plant To Begin In 2012 Construction of Jordan’s first oil shale power plant is expected to start next year after finalizing all negotiations by the end of 2011, the project di...
Volume: 54Issue: 42Published at Mon, 17 Oct 2011 -
Jordan’s Petroleum Products Prices Mostly Unchanged For October
...s supplies to Jordan at preferential prices caused by the blowing up six times of the Arab Gas Pipeline (AGP) which supplies Jordan. Jordanian Minister of Finance Muhammad Abu Hammur said last week that the energy sector was posing the biggest challenge to the economy in 2011. He estimated that Jo...
Volume: 54Issue: 42Published at Mon, 17 Oct 2011 -
Syria Raises Budget Oil Price For 2012
...rian light crude and $65/B for heavy crude (an increase of 36% and 35% respectively from the 2011 values). This compares with $55/B for light crude and $48/B for heavy crude in the current budget (MEES, 13 December 2010). Oil revenue in 2011 was projected at S£189.4bn ($3.83bn), representing 92.2% of...
Volume: 54Issue: 42Published at Mon, 17 Oct 2011