Friday 18 April 2014
 
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deficit

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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Dubai's 2014 budget sees deficit falling by 41pc

Dubai's ruler, Sheikh Mohammed bin Rashid al-Maktoum, has approved a 2014 budget plan for the emirate which envisages the deficit shrinking 41 per cent from the planned level for 2013, UAE state news agency WAM said on Monday.

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Tunisia committed to reform as economy slows

Political unrest has hurt Tunisia's growth outlook but it will stay committed to cutting the state budget deficit next year, while relying on foreign aid to fill a large external financing gap, Prime Minister Ali Larayedh told Reuters.

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Egypt budget deficit soars to $31.92bn

Egypt's budget deficit soared in the last fiscal year as spending on interest rates and energy subsidies increased. Egypt's budget deficit rose to 220 billion Egyptian pounds ($32 billion) at the end of the last fiscal yea

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Bahrain picks banks for dollar bond issue

Bahrain has picked four banks to arrange investor meetings ahead of a potential sovereign bond issue, a document from lead managers said on Monday, with proceeds likely to be used to plug an expected budget defic

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Bahrain’s revenues surge 20pc to top $7.8bn

Bahrain's overall revenues soared by 20 per cent last year to top BD3.03 billion ($7.81 billion), beating the forecast figures by BD511.3 million, a report said. The positive trend was revealed as HRH Prime Minister Prince Kha

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Bahrain’s revenues surge 20pc to top $7.8bn

Bahrain's overall revenues soared by 20 per cent last year to top BD3.03 billion ($7.81 billion), beating the forecast figures by BD511.3 million, a report said. The positive trend was revealed as HRH Prime Minister Prince Kha

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Egypt seeks to increase IMF loan

  Egypt is seeking to increase its previously-requested $4.8 billion loan from the International Monetary Fund to cover its soaring budget deficit, the planning minister said in comments carried by three newspapers on Sunday.

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Egypt economic situation worrisome: Minister

  Egypt's economic situation is "worrisome" and it needs quick measures to restore economic activity, the planning minister told the state news agency Mena as Egypt held talks with the IMF on a $4.8 billion loan.

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Obama budget 'to offer program cuts'

US President Barack Obama will offer cuts to Social Security and other entitlement programs in a budget proposal aimed at swaying Republicans to compromise on a deficit reduction deal to put the country's finances on a sounder footing, a sen

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