The deficit of QR 46.5bn ($12.8bn) envisaged inQatar’s 2016 budget reflects the impact of lower oil prices but remains in line with most expectations, analysts say. It will amount to about 5 per cent of Qatar’s forecast GDP in 2016.…
Tag: budget
Deficit projected in Kuwait’s 2015/16 budget
Kuwait’s parliament has approved the country’s budget for 2015/2016 which projectws a deficit of KD 8.2bn ($ 27bn), including the transfer of 10 per cent of the revenues to the Future Generations Fund. This deficit, which represents about half of…
Saudi government revenue to fall 32 per cent in 2015; spending down 22 per cent
Saudi Arabia’s Finance Ministry announced on 25 December that government revenue is projected to fall by 32 per cent and public spending by 22 per cent in 2015, confirming that Saudi Arabia is anticipating a lengthy period of lower oil…
IMF says Kuwait’s growth has accelerated in 2014
The IMF in its annual Article IV report said Kuwait’s growth has quickened in 2014 and that the Kuwaiti economy will continue to record substantial budget and balance of payments surpluses. GDP at current prices is forecast to grow by…
Bahrain economy forecast to slow in 2014 on lower oil sector output growth: NBK
Bahrain’s rate of economic growth will slow in 2014 and the kingdom’s budget deficit will rise both this year and next due to lower oil prices, National Bank of Kuwait’s (NBK’s) July macroeconomic report about Bahrain says. “Economic growth continued…
Saudi economy remains robust, surpluses continue: Jadwa
The Saudi economy is continuing to grow robustly and surpluses in the both the budget and the current account will continue in 2014, according to the July economic report published today by Saudi Arabia’s Jadwa Investment. “The economy was robust…
KRG tested by refugees, Baghdad budget squeeze and petrol shortage
The Kurdistan Regional Government (KRG), which is growing in status amid speculation that independence could result from the latest violent events in the rest of Iraq, is being tested by unprecedented economic challenges. At least 600,000 Syrian refugees and internally-displaced…
IMF forecasts Omani growth to be 5.5 per cent in 2014
Oman’s real GDP growth was 5.5 per cent in 2013 and will remain at this level in 2014, according to an IMF statement released earlier in May following an IMF mission to the sultanate. “Fiscal and external sectors are estimated…
NBK forecasts zero Saudi nominal growth in 2014
The National Bank of Kuwait (NBK) economic update report today foresees zero growth in Saudi Arabia’s nominal GDP in 2014 on lower oil prices and exports. Real GDP, however, is forecast to grow by more than 3 per cent in…
Gulf Investment House forecasts higher growth and lower surpluses in GCC in 2014
GCC growth will quicken but the region’s surpluses will decline in 2014, according to the GCC Economic Overview for 2014 published by the Gulf Investment House. Aggregate GCC GDP is forecast to grow by 4.1 per cent in 2014 compared to…