Monday 26 January 2015
 
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deficit

Dubai to lift spending 9pc, end deficit in 2015 budget

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

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Oman raises state spending at expense of big deficit

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

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Saudi 2015 budget based on oil price around $60

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

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Saudi’s high-spending budget ‘vital for growth’

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

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Saudi to discuss deficit financing with central bank

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.

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Saudi plans to raise spending in 2015 budget, run deficit

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. S

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Saudi Arabia to keep spending in 2015 budget

Saudi Arabia will continue spending on development projects and social benefits in its 2015 budget despite "challenging" global economic conditions, Finance Minister Ibrahim Alassaf said on Wednesday, state news agency SPA reported.

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Egypt eyes 5.8pc economic growth

Egypt is targeting economic growth of between four and 5.8 per cent within the next three years while holding the budget deficit at 10 per cent of economic output, Finance Minister Hany Kadry Dimian told Reuters

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Egypt projects higher growth, budget deficit

Egypt's government said on Monday it plans to cut petroleum product subsidies in the next fiscal year but still expects the budget deficit to widen, signalling more tough times ahead as voters went to the polls to elect a new president.

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Egypt current account swings back into red

Egypt's current account recorded a deficit of $755.8 million in the six months ending December, swinging back into the red after billions of dollars of Gulf aid helped it record a surplus in the three months ending September.

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