Tuesday 1 September 2015
 
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fiscal

Cheap oil to push UAE into first fiscal deficit since 2009

The UAE is set to post its first fiscal deficit since 2009 because of lower oil revenues, but it can avoid any serious economic slowdown, the International Monetary Fund said after annual consultations with UAE authorities. The UA

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Reforms needed to rein in deficit in Lebanon: Bank Audi

Structural reforms need to be implemented by Lebanese authorities to stimulate the economy and reduce the fiscal deficit, and not bank on the decline in oil prices alone, according to a recent report. Bank Audi’s Lebanon Eco

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UAE ‘can keep spending despite plunge in oil prices’

The large fiscal reserves which the United Arab Emirates has built up will allow it to keep spending on development projects in coming years despite the recent plunge in oil prices, the economy minister said. Although some people

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Moody's downgrades Bahrain rating

Moody's Investors Service today downgraded Bahrain's government issuer rating by one notch to Baa2 from Baa1, and assigned a negative outlook to the rating.    T

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Fiscal muscle gives Saudis oil market options

A combination of massive currency reserves and a 2013 spending plan based on a conservative oil price projection means Saudi Arabia has considerable flexibility in deciding its oil output policy this year. The world's top oil

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Congress may plunge off fiscal cliff

  The "fiscal cliff," a metaphor drawn from nature, was actually created by members of the US Congress, who designed it to be so horrible that they and the president would come to their senses and avert it in the nick o

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UAE nets $10bn budget surplus in 2011

The UAE booked a consolidated state budget surplus of Dh36.2 billion ($9.9 billion) in 2011, the country's finance ministry said yesterday, publicly releasing such data for the first time. The ministry said the figure included

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World Bank warns of Palestinian fiscal crisis

  A fiscal crisis in the aid-dependent Palestinian economy will worsen unless foreign funding increases and Israel eases its restrictions in the occupied West Bank, the World Bank said on Wednesday.  

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Global economy 'may see seven lean years'

German Finance Minister Wolfgang Schaeuble said the global economy may see "seven lean years" as a result of needed fiscal consolidation programmes, even as top US economists questioned the effectiveness of austerity measures. In a speech

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Massive fiscal tightening must: IMF

Developed countries with big budget deficits must start now to prepare public opinion for the belt-tightening that will be needed starting next year, the No. 2 official at the IMF said on Sunday. John Lipsky, the International Monetary Fun

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