Saturday 6 February 2016
Deficit budget

Kuwait cuts spending plan as oil prices hit exports

Kuwait's finance ministry has slashed spending and projected a big deficit in a draft budget for the next fiscal year, as plunging oil prices hit its export revenues. The draft budget for the year starting in April envisages s


Prince Alwaleed attacks Saudi deficit budget

Billionaire Prince Alwaleed bin Talal has lashed out at the Saudi fiscal policy after projecting the largest-ever budget deficit for 2015 following the slump in oil prices. "We have reached the danger point... after starting


Oman mulls spending cuts, tax rises as oil tumbles

An advisory body to Oman's government has suggested sweeping spending cuts and tax rises, including a levy on liquefied natural gas exports, to cope with the hit to state revenues from the plunge in oil prices. Oman has run a


UAE ‘feels no pressure to issue bonds’

The government of the UAE will further discuss its plan to introduce a law allowing public debt issues at the federal level, and it feels no pressure to issue bonds despite a budget deficit, Minister of State for Financial Affairs, said on Tuesday

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