Tuesday 7 July 2015
 
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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

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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

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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

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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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