Saudi Arabia’s GDP and current account will both perform better in 2016 than had been previously expected, figures contained in the IMF’s initial statement on its annual Article IV consultation with the kingdom suggest. The statement was published on the…
Tag: IMF
UAE tells IMF it aims for budget balance in 2018
The government of the UAE aims to deliver a balanced budget in 2018 through a combination of measures that will involve federal government working in co-ordination with the governments of the UAE’s seven emirates, according to a statement attached to…
IMF says corporation tax possible in UAE
The statement issued by the IMF following the conclusion of its Article IV consultation with the UAE on 20 July says corporation tax is a possibility and called for further action to eliminate energy subsidies. “Directors encouraged the authorities to…
IMF deal calls for radical change in Iraq
For full coverage of Middle East business, see MEED The government of Iraq will cut public spending, raise taxes and electricity tariffs and implement sweeping reforms in its economic and financial management by 2019, the agreement signed last month between…
IMF approves $5.34bn Iraq loan
For full coverage of Middle East business, see MEED The IMF executive board today approved a three-year stand-by arrangement (SBA) for Iraq of SDR 3.831bn (about US$5.34bn, or 230 per cent of quota) to support the government’s economic reform program.…
IMF says Iran makes progress
For full coverage of Middle East events, see MEED The Islamic Republic of Iran has made progress in improving macroeconomic conditions in a difficult economic environment but challenges continue to lie ahead for the country in light of the recent…
IMF cuts Saudi Arabia’s growth forecast
For full coverage of Middle East business developments, see MEED The IMF has cut its forecast of real growth in the Saudi Arabian economy in 2016 by one full percentage point to 1.2 per cent in its World Economic Outlook…
IMF forecasts Iraqi oil export price to fall to $45 in 2016
For full coverage of Middle East business events, see MEED An IMF report on the Iraqi economy published on 12 January assumes average Iraqi crude oil export prices will fall to $45 a barrel in 2016 from $50 a barrel…
IMF forecasts Iran will be fastest-growing Gulf economy
For full coverage of business developments in Iran and the Middle East, see MEED The IMF Article IV report published today called for the Iranian government to continue counter-inflationary policies, fiscal re-balancing and job-creation measures but forecast the Islamic Republic…
Qatar budget deficit in line with expectations
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.…