- Sort by:
- Score
- Published ▼
-
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 -
Iraq Budgets For Higher Revenue In 2017 As Oil Prices Rise
...vernment salaries. But this is contingent on the resuscitation of a December 2014 agreement, under which the KRG is supposed to provide state oil marketer Somo with 300,000 b/d from the KRG-controlled Kirkuk fields and 250,000 b/d from fields in the ‘KRG proper’, or the creation of a new agreement. Neither ap...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
Gulf Finance: Rise Of The Renminbi
...counted for 74% of direct payments to China and Hong Kong by value, an increase of 52% compared to 2014, according to data provided by international transactions network Swift. Meanwhile, in Qatar, the RMB was used for 60% of all payments, a huge rise of 247% compared to 2014. In absolute terms, the US...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
Algeria Raises $5.1bn In Bonds, Taps ADB For $1bn
...ven that spending this year is budgeted at $81.5bn, whilst the country is on track to earn just $25bn from oil and gas exports. Oil and gas export revenue was $60bn in 2014 and $63bn in 2013 when it accounted for a whopping 97% of export revenue (see table). With the collapse in earnings Algeria’s re...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
UAE Plans 3% Spending Cut For 2017
...er a five-year period with the aim of fulfilling the objectives of the UAE Vision 2021. Previously the UAE had issued a three-year budget for 2014-16, also intended as a planning tool to implement longer term policies (MEES, 17 October 2014). More than half of the 2017 budget outlay some Dh 25...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016 -
Algeria: Forex Down Again, On Track For $20bn Deficit
...ES CALCULATIONS. ALGERIA’S FOREIGN CURRENCY RESERVES ($BN, END PERIOD) *FORECAST BY PRIME MINISTER SELLAL, JULY 2016.SOURCE: ALGERIAN CENTRAL BANK, IMF, APS. ALGERIA: LATEST TRADE FIGURES INDICATE 2016 OIL & GAS EXPORT EARNINGS DOWN 58% FROM 2014...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016 -
Riyadh Stays Positive
...Saudi Finance Minister Ibrahim al-‘Assaf painted a positive picture of the kingdom’s financial position during a seminar in Riyadh on 25 October. Despite oil prices remaining around $50/B, less than half 2014’s levels, the minister said “we have managed to maintain our public finances in a go...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
Algeria Gets Real With $50/B 2017 Budget Oil Price
...the same period a year earlier which in turn was 40% below 2014 levels. An indication of just how dependent Algeria is on hydrocarbons is that even with the revenue collapse oil and gas still provided 94% of export revenue: the figure was 97% in 2014. Algeria recorded a trade deficit of $14bn in...
Volume: 59Issue: 41Published at Fri, 14 Oct 2016 -
Gulf Equity Markets: Change Is Afoot
...itical mass. But UAE markets are now much more developed than in 2008. The investor base is more sophisticated, including an openness to international investors, especially after the country’s inclusion into the MSCI and FTSE emerging markets indexes. IN FROM THE FRONTIER In May 2014, global in...
Volume: 59Issue: 41Published at Fri, 14 Oct 2016 -
IMF Praises Iran’s Planned Reforms, But Implementation Is Questionable
...) 2013 January 42 July 54 2014 June 62 2016 Ju...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016 -
Saudi Takes First Steps To Rein In Bloated Public Sector
...blic Investment Fund (PIF) which in turn is expected to spend money in the economy and boost domestic liquidity. Although the plunge in oil prices has seen government revenues collapse from $279bn in 2014 to just $137bn under the 2016 budget, spending has fallen by much less. It has fallen just $69...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
Iraq Plans For $42/B In 2017, Exports At 3.75mn b/d
...y the capital investment budget, the government will borrow ID6.5 trillion ($5.6bn) in order to make loans to businesses in agriculture, industry and housing. The government exhausted its own cash reserves in 2014, and has been able to continue paying public sector salaries – unlike in the KRG – on...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
Islamic Finance: A Young Industry Put To The Test
...eir assets by 12% in 2014 but this fell to 7% in 2015, according to a report published by S&P Global earlier this month (see chart 1). S&P Global predicts this slowdown will persist in 2016 and 2017, with growth stabilizing at around 5%. S&P cites two key factors as acting as a brake in 2017: the im...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
SEC Secures $1.3bn Sukuk
...rkets. Although SEC received a $13.2bn ‘soft loan’ from the Ministry of Finance in March 2014, it has raised $21.3bn from the finance sector. The loan is SEC’s first sukuk since January 2014. SEC has followed a recent GCC trend away from Islamic financing (see main story). It takes borrowing this ye...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Kuwait Subsidies Row Hampers Efforts To Cut Record Deficit
...15-16 2014-15 REVENUE 10.24 -3.36 -27.2 13.60 24.93 of wh...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Egypt Struggles To Raise Money For Imf ‘Bilateral Financing’
...yptian power projects, and in particular renewables, under a program instigated by the World Bank in 2014. Most recently, the European Bank for Reconstruction and Development announced it is considering a $500mn loan to Egypt to fund 10-15 privately developed solar projects, each with 20-50MW capacity (ME...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
IMF To Assist Egypt In Raising Bilateral Aid
...e first seven months of 2016, down 2% from the same period of 2015 and 7% from the same period of 2014 (see chart 2). At least this ‘fall’ can be put down to the strength of the dollar. The same cannot be said for tourism revenues which have been in free fall since the January 2011 revolution. Re...
Volume: 59Issue: 36Published at Fri, 09 Sep 2016 -
Egypt Plans VAT At 13% From 1 October
...scal reform program began in July 2014 with a reduction in energy subsidies – since when oil prices have collapsed greatly helping Cairo achieve this goal (see chart) – and the levying of taxes aimed at slashing the budget deficit, which rose to 11.5% of GDP in fiscal 2015-16. A 14% VAT rate was ex...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Jordan Gets IMF Boost
...ojected $2.7bn this year from $3.3bn in 2015 and $5.5bn in 2014. DEFICIT UP, AID DOWN Jordan posted a budget deficit of JD291mn ($410mn) in the first half of 2016, up from JD223mn ($329mn) in 1H 2015, with the country hit by a fall in foreign grants to JD241mn ($340mn) from JD295mn ($41...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016 -
Egypt Secures Saudi-UAE Cash For IMF Facility
...volving further devaluation of the Egyptian pound. Egyptian officials reiterated this week that the government plans to end fuel subsidies within three years. This tallies with its earlier plan unveiled in July 2014 to phase out fuel subsidies over a period of five years. Spending on petroleum su...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016