Oman posted a government budget deficit of RO 360.8 million ($937 million) in 2014 compared to a surplus of RO401 million in 2013, provisional finance ministry data showed on Thursday.
Oman's original 2014 b
The Central Bank of Bahrain (CBB) has warned that borrowing in the face of oil price drop and the absence of a plan to reduce deficit, will have an adverse impact on the kingdom’s economic stability.
With increased governmen
Structural reforms need to be implemented by Lebanese authorities to stimulate the economy and reduce the fiscal deficit, and not bank on the decline in oil prices alone, according to a recent report.
Bank Audi’s Lebanon Eco
Kuwait's finance ministry has slashed spending and projected a big deficit in a draft budget for the next fiscal year, as plunging oil prices hit its export revenues.
The draft budget for the year starting
Dubai would raise spending nine per cent in 2015 under a state budget approved by the emirate's ruler, designed to keep the economy growing strongly while eliminating its budget deficit, official news agency WAM reported on Saturday
Oman's finance ministry released a state budget for 2015 that raises spending at the cost of a big projected deficit due to the plunge in oil prices.
Government expenditure this year is estimated at RO14.1 billion ($36.6 billi
Saudi Arabia's 2015 state budget assumes an oil price close to current levels of around $60 a barrel for Brent crude, a shift from past budgets which were based on prices well below market levels, analysts say.
The kingdom doe
Saudi Arabia’s budget for the 2015 fiscal is another expansionary budget with spending maintained at a very high level which will play a vital role in supporting the economy, a report said.
For the first time since 2011, a fiscal
Saudi Arabia's Finance Ministry will discuss with the central bank its options for financing the large state budget deficit expected next year, and may cover some of the shortfall with borrowing, Finance Minister Ibrahim Alassaf said.
Saudi Arabia plans to raise government spending by 0.6 per cent to a record high next year while covering a large budget deficit due to plunging oil prices with its huge fiscal reserves, the Ministry of Finance said on Thursday.