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.
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
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
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