Wednesday 10 February 2016
 
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Budget Deficit

Saudi Arabia presents plan to move beyond oil

Saudi Arabia outlined ambitious plans on Monday to move into industries ranging from information technology to health care and tourism, as it sought to convince international investors it can cope with an era of cheap oil. A meeti

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Saudi Arabia presents plan to move beyond oil

Saudi Arabia outlined ambitious plans on Monday to move into industries ranging from information technology to health care and tourism, as it sought to convince international investors it can cope with an era of cheap oil. A meeti

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Oman plans 27pc budget deficit cut

Oman's government plans to cut its budget deficit to RO3.3 billion ($8.6 billion) this year from an actual RO4.5 billion ($11.6 billion) last year, partly through big spending cuts, Financial Affairs Minister Darwish al-Balushi said on Frida

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Kuwait to study raising fees for services

Kuwait's government is studying whether to raise fees for its services, Finance Minister Al-Al-Saleh said in comments published by the local Al-Rai newspaper on Sunday. Al-Saleh said the study was part of a project to

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Saudi could buckle under oil shock, investors warn

Saudi Arabia faces a crisis in the next three to five years if oil prices remain low and the country still has big budget deficits and a rigid, pegged currency, participants in the Reuters Global Investment Outlook Summit said on Tuesday.

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Saudi could buckle under oil shock, investors warn

Saudi Arabia faces a crisis in the next three to five years if oil prices remain low and the country still has big budget deficits and a rigid, pegged currency, participants in the Reuters Global Investment Outlook Summit said on Tuesday.

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Low oil to slow down Bahrain’s GDP growth

Bahrain’s economic growth in real GDP is expected to slow in 2015 to 2 per cent in 2015 from 4.5 per cent year-on-year (y/y) last year amid a weak oil price environment, a report said. The oil sector growth is poised to fall

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Kuwait ‘may issue bonds to finance deficit’

Kuwait is considering issuing bonds among various options to finance a budget deficit created by low oil prices, Finance Minister Anas al-Saleh said on Thursday. "Going to the market and issuing bonds and so on, could it happ

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Kuwait parliament approves budget with $27bn deficit

Kuwait's parliament on Wednesday approved a state budget for the current fiscal year that envisages a budget deficit of KD8.18 billion ($27 billion) - nearly half total spending - because of low oil prices. The budget for the

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Egypt targets 11pc budget deficit in fiscal 2014/15

Egypt is targeting a budget deficit of around 11 per cent for the fiscal year that began in July and aims to boost economic growth to 5-6 per cent within three years, Finance Minister Hani Dimian told a conference on Tuesday. Poli

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