Saturday 25 June 2016
 
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deficit

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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Kuwait deficit hits $3.62bn till Aug-end

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

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Iraq to seek up to $500m in loans from IDB

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

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Kuwait to reschedule development projects

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

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