Sunday 7 February 2016
 
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deficit

Saudi Arabia posts record $98bn deficit in 2015

Saudi Arabia's government ran a record budget deficit of SR367 billion ($97.9 billion) in 2015 because of low oil prices, the Council of Economic and Development Affairs said on Monday. The deficit is "considered an accep

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Saudi Arabia says 2015 financial deficit manageable

Saudi Arabia's financial deficit this year is manageable despite the low oil prices, and the kingdom's economic growth rate and financial health will stay strong, Foreign Minister Adel al-Jubeir said at a security conference in Bahrain o

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Kuwait deficit hits $3.62bn till Aug-end

Kuwait's budget deficit in the first five months of its fiscal year stood at KD1.094 billion ($3.62 billion) after a deduction for the Future Generations Fund, the finance ministry said on Tuesday. The deficit from April 1 to

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Iraq to seek up to $500m in loans from IDB

Iraq will seek up to $500 million in loans from the Jeddah-based Islamic Development Bank (IDB) to help cover its projected deficit, complementing the country's return to the international debt market, according to the bond's prospectu

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Kuwait to reschedule development projects

Kuwait is planning to reschedule its development plan citing the deficit in its budget, according to a report.   The government is also set to reconsider its developmental projects because of the deficit that res

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Oman budget deficit hits $4.98bn in H1

Oman posted a budget deficit of RO1.92 billion ($4.98 billion) in the first half of this year, against a RO250 million surplus a year earlier, because of lower oil export prices, provisional Finance Ministry data showed on Wednesday. &nbs

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Oman swings to $3.9bn deficit in Jan-May

Oman posted a budget deficit of RO1.50 billion ($3.90 billion) in the first five months of this year, swinging from a RO232.9 million surplus a year earlier. The deficit is due to lower oil export prices, provisional financ

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Saudi bond issues to soar as government plugs deficit

Bond issues by Saudi Arabia's government are expected to be worth tens of billions of dollars by the end of 2015 as the state ramps up debt sales to plug a hole in finances created by low prices for oil exports. Central bank g

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Saudi issues $4bn bonds to finance budget deficit

Saudi Arabia has issued bonds worth SR15 billion ($4 billion) to local banks this year to finance its budget deficit, its central bank governor was quoted as saying by Al-Iqtisadiya daily on Friday. The bonds will help pay for a b

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Egypt draft budget projects 9.9pc deficit, 5pc growth

Egypt's cabinet approved a draft 2015/2016 budget that projects a deficit of 9.9 per cent of gross domestic product, narrowing slightly from an expected gap of 10.8 percent in the current fiscal year. The draft, which has yet

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