Thursday 25 August 2016
 
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deficit

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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Egypt approves growth plan, deficit-cutting budget

Egypt's President Abdel Fattah Al-Sisi has approved the 2016-2017 draft budget, as well as an economic development plan, and sent both to parliament for passage, state news agency Mena said.   The draft budge

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Kuwait to issue international, domestic bonds

Kuwait's government plans to issue both international and domestic bonds to help cover a budget deficit caused by low oil prices, finance minister Anas Al-Saleh said on Tuesday. Al-Saleh told Reuters on the sidelines of a fina

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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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