Saturday 26 July 2014
 
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IMF

Saudi economic growth forecast to hit 4.6pc

Saudi Arabia's economy is likely to grow 4.6 percent this year, more than previously estimated, helped by a robust performance of the private sector, the International Monetary Fund said. "Private sector growth is expecte

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Dubai's finances stronger but still vulnerable: IMF

Dubai's ability to finance its debts has improved because of stronger economic growth and more conservative spending, but the emirate would still be vulnerable in a major dowturn of the global economy, the International Monetary Fund said.

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UAE likely to cut fiscal spending: IMF

The UAE is likely to cut its fiscal spending further in 2014 as the oil and real estate-powered economy is growing strongly and private credit growth is recovering, the IMF said. "The combined federal and emirate budgets impl

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IMF warns on Dubai real estate bubble

The strengthening real estate cycle in the UAE, particularly in the Dubai residential market, could attract increased -- and potentially destabilising -- speculative demand, spurring the risk of unsustainable price dynamics and an eventual corre

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Kuwait may face budget deficit, warns minister

Kuwait's finance minister has warned that the country will face a certain budget deficit because growth in spending has outpaced a rise in public revenues. "A budget deficit is inevitable... as the average annual growth i

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Oman non-hydrocarbon sector to grow at 5pc

Oman's public investment program is expected to help maintain the Sultanante's non-hydrocarbon growth at around 5 per cent over the medium term, an IMF statement said.   The statement followed a visit by an Internation

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Yemen in urgent need of donor aid: IMF

Yemen has a more urgent need for financial aid in 2014 than last year to fund its budget spending as currency reserves shrink and donor aid is slow to arrive, a senior International Monetary Fund official said. The impoverished Ar

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Dubai must take more steps to curb speculation: IMF

Dubai should consider stronger measures to dampen what could be speculative real estate transactions in the emirate, a senior International Monetary Fund (IMF) official said on Tuesday, in the global body's latest warning of a potential prop

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Bahrain Shura focus on expat labour at IMF meet

Curbing inflation and foreign manpower, both of which are considered major problems facing the economy, are essential as they have a negative impact, eventually ending up as socio-political problems, said a top official. Shura Cou

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Egypt in need of more aid, says IMF

Egypt will need further international assistance to put its economy back on track despite receiving huge loans from Gulf states, the IMF said. "Egypt will need financial support which could come from its partners in the Gulf

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