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
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
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
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
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
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.
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
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
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
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