Kuwait's government has started reducing some state subsidy payments and is in an advanced stage of preparing a plan to cut subsidies for kerosene and electricity, the International Monetary Fund said.
Subsidy cuts are an impo
Kuwait's budget surplus edged up to KD12.9 billion ($44.8 billion) in the fiscal year to last March as government spending fell, largely because of a drop in capital expenditure, finance ministry data showed.
The figures sugge
Saudi Arabia said on Tuesday it would take new "qualitative measures" to improve its economic development, signalling a potential shift of emphasis in its drive to raise living standards by spending tens of billions of dollars on welfa
Gulf Arab economies are likely to keep growing robustly over the next two years as government spending remains high, even though somewhat softer oil prices may cut into government revenues, a report said.
Saudi Arabia's gross
With 2013 forecasted to be a year of optimism and opportunity for construction in the Middle East, all eyes are back on governments in the region and how they propose to manage their spending, according to a report.
In a region where th
Inflation in Qatar soared into the double digits after the country spent heavily on hosting the 2006 Asian Games. Now, with another government spending spree and an even bigger sports event looming, inflation is on the rise again.
Bahrain's economy, bouncing back from a year ago with most sectors experiencing strong growth, is expected to grow by at least 2.4 per cent this year, driven by increased manufacturing and government spending.
Real gross domes
Kuwait needs to step up spending on infrastructure to boost economic growth, the head of its largest bank said on Thursday, in unusually critical comments for a Gulf business leader.
"Government spending continues to be insuf
The outlook for Saudi's banking system remains stable as the Kingdom's economic activity and credit growth gets supported by the positive effects of high government spending and increased private-sector business activity, according to Mo
Backed by a strong oil sector and large government stimulus generating impressive growth figures, Saudi Arabia’s real GDP is expected to grow by 5.7 per cent this year, said a report.
Provisional data show the non-oil sector grew