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Saudi Arabia sees sharp fall in H1 fiscal deficitSaudi Arabia has reported a sharp improvement in fiscal deficit in the first half (H1) of the year, coming in at SR41.7 billion ($11.1 billion), much lower than 50 per cent of SR195 billion projected for the full year by the government, a report More… |
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Oil drives Saudi Arabia’s fiscal deficit lower in H1Saudi Arabia’s budget deficit, which fell to SR72 billion ($19 billion) in the first six months of the year, half of the first-half 2016 deficit, reflects a sharp increase in oil revenues from higher oil prices, Moody’s said. More… |
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Cheap oil pushes UAE into first fiscal deficit since 2009The UAE is set to post its first fiscal deficit since 2009 because of lower oil revenues, but it can avoid any serious economic slowdown, the International Monetary Fund said after annual consultations with the local authorities. The UA More… |
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Oman to maintain spending despite low oil pricesDespite a sizeable fiscal deficit this year and the next due to decline in oil prices, Oman is likely to avoid deep cuts in spending as the real GDP grows by 4 per cent in 2015 before moderating to 3.7 per cent in 2016, a report said. More… |
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Bahrain renews efforts to reduce deficitsStatements by the Bahraini government to reduce its fiscal deficit and contain the rise in debt signal a renewed determination to improve its government finances, said a report released by Moody's Investors Service. The presen More… |
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Egypt current account deficit falls to $5.58bnEgypt's current account deficit narrowed to $5.58 billion in the fiscal year to end-June from $10.15 billion in the year to end-June 2012, the central bank said on Tuesday. Foreign direct investment into Egypt fell to $3.00 bi More… |
