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Iraqi Cabinet Approves 2013 Draft Budget
...5,000 b/d from the KRG, with a budget oil price of $85/B, up from $76.5/B in 2011 (MEES, 12 March). Mr Dabbagh added that the 2013 budget deficit will be covered by unused funds from the 2012 budget, funds in the Development Fund of Iraq (DFI) account with the New York Federal Reserve, local debt raised th...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Algeria’s 2013 Draft Budget Projects Lower Spending
...udence” but not austerity. The government had earlier indicated that even if oil prices were to dip, the budget will not require the introduction of wage cuts or reduction of subsidies and social transfers. To avoid unrest and appease public grievances the government in 2011-12 had increased its social sp...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Donors Pledge Further $1.5Bn Aid To Yemen
...gion. Population % With Completed Secondary Education (2010) Source: UNDP Human Development Report 2011. Where Does It All Go? With the aid secured, humanitarian agencies have come out in force, calling for increased transparency in allocation, warning not en...
Volume: 55Issue: 41Published at Fri, 05 Oct 2012 -
Jordan Mandates Three Banks For Its $1Bn Eurobond
...sbursed by the Kuwait Fund for Arab Economic Development (KFAED). Last week Qatar also signed a memorandum of understanding with Jordan to regulate the disbursement of the Qatari grant of $1.25bn under the GCC pledge. He revealed that in 2011 Jordan had received $1.4bn in aid from the Gulf countries, ma...
Volume: 55Issue: 40Published at Fri, 28 Sep 2012 -
Kuwait To Save 25% Of Its State Revenue
...ctors, among others. According to statistics on the closed accounts from the finance ministry, Kuwait realized a budget surplus of KD10.205bn ($36.3bn) in 2011-12 instead of the projected deficit of KD7.334bn ($26.1bn). In fact these statistics also show that all Kuwaiti budgets since 2000 ha...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
Egypt Puts Foreign Borrowing Needs At $10Bn
...d/or bonds, as well as sukuk (MEES, 6 August). Last week, the ministry issued treasury bills worth E£4bn ($657mn) with a 14.465% coupon to raise funds domestically. The minister noted that the preliminary closed accounts show that the 2011-12 budget had realized a deficit of E£170bn ($27...
Volume: 55Issue: 39Published at Fri, 21 Sep 2012 -
Opposition Sees Imminent Collapse Of Syrian Economy
...serves at the start of the political turmoil in March 2011, according to officials and other analysts (MEES, 25 July 2011). Dr Qadi also noted that “the Syrian regime had obstructed the mechanisms of supply and demand before the revolution through monopoly, corruption, and the absence of an...
Volume: 55Issue: 38Published at Fri, 14 Sep 2012 -
World Bank Welcomes Iran Subsidy Cuts, Foresees Sanction Woes
...creased state savings by $44bn in 2011 and $53.8bn in 2012, according to Iranian 2012-13 budget projections. The government paid out $33bn in direct cash handouts to the lowest and middle income classes last year. And according to the budget’s provision for this year it is expected to pay $40bn in cash re...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012