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Egypt’s Stretched Finances Boosted By Record Suez Canal & LNG Revenues
...untries,” the CBE says. 1: EGYPT'S TRADE BALANCE: 2021-22 SAW A RECORD $43BN DEFICIT DESPITE THE FIRST OIL & GAS SURPLUS SINCE 2011 SOURCE: CBE. MEES. 2: EGYPT’S SERVICES BALANCE: RECORD SUEZ CANAL REVENUES & DOUBLING IN TOURISM RECEIPTS ENABLED EGYPT TO NOTCH UP A 3-YEAR HI...
Volume: 65Issue: 41Published at Fri, 14 Oct 2022 -
Qatar’s Revenues From Europe Sales Balloon Amid Ukraine Fallout
...2011 over the first half of the year (see chart 3). Qatar supplied 4.36bcm (3.2mn t/y) in the first half of the year, up slightly year-on-year, but the biggest gains have been from the US. Qatar is well placed to increase LNG supplies to the UK once its expansion trains begin to come online fr...
Volume: 65Issue: 37Published at Fri, 16 Sep 2022 -
Saudi Arabia Posts Strong Q2 Growth
...Saudi Arabia’s economy is booming, with GDP growing at its fastest pace since 2011. Inflation remains under control and foreign reserves are being rebuilt. Saudi Arabia’s economic rebound continues apace, with growth accelerating to 11.8% last quarter. Preliminary government figures for Q2...
Volume: 65Issue: 31Published at Fri, 05 Aug 2022 -
Tunisia Set To Return To The Past With New Constitution
...Tunisian President Kais Saied is pushing ahead with a new constitution which is set to reverse almost all the democratic gains of the 2011 revolution. Meanwhile, the economy is crashing. Tunisia is set to cap a decade-long experience with democracy on 25 July. President Kais Saied’s new ‘on...
Volume: 65Issue: 29Published at Fri, 22 Jul 2022 -
Opec Revenues Set For 2022 Windfall After 2021 Turnaround
...ectrum lie the many Opec members which are struggling to keep up. One example is Algeria, where state oil firm Sonatrach says it is expecting around $50bn in hydrocarbon revenues for 2022. MEES estimates Algeria will earn around $38bn from oil exports alone, up 65% on last year. In 2011, Al...
Volume: 65Issue: 26Published at Fri, 01 Jul 2022 -
Libya Set To Approve $20bn ‘Paper’ Budget
...ter the overthrow of long-time ruler Muammar Gaddafi in 2011. MEES estimates oil revenues rose to an eight-year high $30bn last year and may well top that this year as oil prices have pushed past $100/B (MEES, 28 January). The Bashagha camp’s latest moves are designed to radiate a sense of or...
Volume: 65Issue: 19Published at Fri, 13 May 2022 -
Saudi Arabia Pledges To Invest Oil Export Windfall In Economic Reforms
...P in the first quarter of the year growing at the fastest pace since 2011. Unsurprisingly, the surge has been driven by resurgent oil markets, as the fallout from Russia’s 24 February invasion of Ukraine has pushed oil prices above $100/B for the first time since 2014. The kingdom launched its Vi...
Volume: 65Issue: 18Published at Fri, 06 May 2022 -
Libya Gas Exports To Italy Pick Up
...d (3.23 bcm) for 2021, the lowest annual figure since 2011, when that year’s revolutionary anarchy completely halted exports for several months (see chart). Supplies have now fallen each year since 2019 after the completion of the second phase of the Bahr Essalam project which bumped capacity by 40...
Volume: 65Issue: 04Published at Fri, 28 Jan 2022 -
Libya’s 2021 Finances Boosted By Oil Revenues, Skewed By Dinar Devaluation
...nister Abdulhamid Dbeibeh was frequently accused of overspending to boost his popularity: hiking wages, granting generous marriage allowances, and awarding numerous government contracts. But in dollar terms, spending of $19.1bn was the lowest since 2011 – the year in which a bloody civil war ousted lo...
Volume: 65Issue: 02Published at Fri, 14 Jan 2022