Friday 29 March 2024
 
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budget cut

Spain announces deep budget cuts

Spain announced deep cuts to its central government budget yesterday as it battles to convince European partners and debt markets it can rein in its budget deficit. The government said it would make savings of 27 billion euros ($36 billion

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UAE seeks $34.4 billion cut in budget

The UAE finance ministry has proposed a five per cent cut in the state budget for three years to Dh126.3 billion ($34.4 billion), a local paper said. Arabic daily Al Ittihad said it obtained a September letter to officials from Minister of

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Jordan budget gap widens, cuts sought

Jordan's budget deficit climbed to JD763.2 million ($1.08 billion) in the first eight months of the year, finance ministry sources said on Tuesday, mainly because the global downturn has cut foreign grants. The latest preliminary figur

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Iraq trims budget as oil prices plunge

Iraq finance minister said the falling oil price had forced Baghdad to cut its next year's budget to $67 billion at a time when the country craves funds to develop its dilapidated infrastructure. Finance Minister Baqer Jabr Solagh said

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