Monday 26 September 2016
 
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Budget Deficit

Kuwait to raise gasoline prices by 73pc from Sept

Kuwait is to increase the prices of gasoline by as much as 73 per cent from September, showing how the oil price slump is affecting the energy-rich Gulf state's finances. Oil-exporting states around the Gulf are reducing subsi

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Qatar sees at least three years of budget deficits

Qatar's government expects to run a budget deficit for at least three years as low natural gas and oil prices weigh on its revenues, the Ministry of Development Planning and Statistics said on Saturday. In a long-term report o

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Egypt eyes 9.8pc budget deficit for 2016-2017

The Egyptian government is targeting a budget deficit of 9.8 per cent for 2016-2017 and 9 per cent for the following year, the planning minister said in a news conference on Saturday. Ashraf Al Araby also said his government is ta

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Saudi to sell domestic bonds on Monday

The Saudi Arabian government plans to sell five-, seven- and 10-year, fixed-rate riyal bonds next week to finance its budget deficit, a banker aware of the transaction said on Thursday. The five-year bonds will be offered at 58-63

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Egypt targets higher growth, deficit reduction

Egypt promised tough action to restore growth with a government programme that aimed to reduce the budget deficit while protecting the poor as public anger mounts over a deteriorating economy. Prime Minister Sherif Ismail, reading

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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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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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