Saturday 10 December 2016
 
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deficit

Saudi Arabia's deficit 'could hit $90bn in 2016’

Saudi Arabia’s austerity, privatization and taxation measures will not be sufficient to reduce the deficit to the desired extent, leading to the kingdom seeing a deficit of $80-$90 billion or 13 per cent of the GDP in 2016, a report said.

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Egypt's current account deficit rises to $18.7bn

Egypt's current account deficit rose to $18.7 billion for the 2015-16 fiscal year that ended in June, from $12.1 billion last year, central bank data showed. Egypt's economy is struggling to recover after a mass uprising i

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Egypt's budget deficit rises to 11.2pc of GDP

Egypt's budget deficit widened to 11.2 per cent of gross domestic product in the first 11 months of the financial year, up from 10.8 percent a year earlier, the Finance Ministry said on Monday. In its monthly report, the minis

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Bahrain posts $468m non-oil trade deficit in July

Bahrain's non-oil foreign trade posted a deficit of BD177 million ($468.5 million) during July 2016, according to the kingdom's Information & eGovernment Authority. The total value of imports reached BD326 million ($86

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Oman H1 budget deficit surges to $9bn

Oman's government posted a budget deficit of RO3.5 billion ($9.1 billion) in the first half of 2016 compared with a deficit of RO1.92 billion a year earlier, as low oil export prices slashed its revenues, provisional Finance Ministry

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Flagging non-oil business dampens outlook for Gulf

Economists have cut growth forecasts for most of the rich oil exporting countries of the Gulf as non-oil business activity slows because of government austerity measures, a quarterly Reuters poll found. Last year, growth in the si

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Brazil mulls sale of Sao Paulo, Rio airports

Brazil's government will consider selling airports in Sao Paulo and Rio to help to reduce a large fiscal deficit next year, interim President Michel Temer told the Folha de S.Paulo newspaper on Sunday. The paper said that the

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Oil fall tips Opec current account into deficit in 2015

The Organization of the Petroleum Exporting Countries’ (Opec) 2015 oil export revenues slumped 46 percent to a 10-year low, the group said in a report published on Wednesday, underlining the impact on producers' income from a collaps

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Iraq sells $1.3bn in local bonds to plug deficit

Iraq's central bank on Tuesday said it started selling local bonds worth 1.5 trillion Iraqi dinars ($1.29 billion), as part of an effort to plug a government deficit caused by tumbling oil prices and the costs of fighting an Islamic State in

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Abu Dhabi ready to fund $10bn deficit via bond issues

Abu Dhabi expects to post a wider budget deficit of Dh36.9 billion ($10.1 billion) in 2016 because of low oil prices, and plans to cover the gap mainly with international bond issues, a prospectus for a bond sale by the emirate showed.

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