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Gulf Independent - budget-deficit
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GCC budget deficits could cross $153bn in 2016 ECONOMY

GCC budget deficits could cross $153bn in 2016

The GCC budget deficits are forecast to "peak" at over $153bn this year against an estimated $119bn in 2015, after which it is likely to taper off but the "gap" is expected to persist over the medium term.

4:45 AM November 25 2016
Saudi Arabia slashes ministers' pay, cuts bonuses ASIA

Saudi Arabia slashes ministers' pay, cuts bonuses

Saudi Arabia will cut ministers' salaries by 20% and scale back financial perks for public sector employees, according to a cabinet statement and royal decree broadcast on state-run Ekhbariya TV on Monday.

4:45 AM November 25 2016
Gulf budget deficit expected to hit $153bn in 2016 ECONOMY

Gulf budget deficit expected to hit $153bn in 2016

Gulf Arab oil exporters are expected to see their budget deficits peak this year owing to the plunge in energy revenues, a report said on Tuesday.

4:45 AM November 25 2016
Fuel subsidy reform to help Qatar reduce its budget deficit: BMI ARABIA

Fuel subsidy reform to help Qatar reduce its budget deficit: BMI

Fuel subsidy reform will help Qatar reduce its budget deficit by allowing spending to decrease, according to BMI Research, a Fitch Group company.

4:45 AM November 25 2016
IMF backs Saudi economic plan for 'appropriately bold' transformation ECONOMY

IMF backs Saudi economic plan for 'appropriately bold' transformation

The International Monetary Fund backed Saudi Arabia’s sweeping economic reform plan and said the kingdom was cutting spending at the right speed to cope with a huge state budget deficit caused by low oil prices.

4:45 AM November 25 2016
Qatar's budget balance to 'turn positive' again in 2017 ECONOMY

Qatar's budget balance to 'turn positive' again in 2017

Qatar’s budget balance will “turn positive” as early as 2017, says a senior BMI researcher, who asserts that the country will face “only one year” of budget deficit.

4:45 AM November 25 2016
Riyadh Metro ‘on schedule’ despite Saudi spending cuts ASIA

Riyadh Metro ‘on schedule’ despite Saudi spending cuts

The $23bn Riyadh Metro will be completed on schedule in 2019 and its budget is ring-fenced, a senior official said, quashing speculation the project could be scaled back or delayed following a slump in Saudi Arabia's oil revenues.

4:45 AM November 25 2016
Qatar ‘will act to maintain liquidity if needed’ ARABIA

Qatar ‘will act to maintain liquidity if needed’

Authorities in Qatar will use fiscal policy and money market operations if needed to prevent low oil and gas prices from causing a liquidity crunch in the banking system, QCB governor was quoted as saying.

4:45 AM November 25 2016
British finance minister warns of 'cocktail' of risks in 2016 INTERNATIONAL

British finance minister warns of 'cocktail' of risks in 2016

British finance minister George Osborne has warned the economy faces a "dangerous cocktail of new threats" in 2016, insisting on the need to remain strict on public spending.

4:45 AM November 25 2016
Saudi Arabia raises domestic energy prices ASIA

Saudi Arabia raises domestic energy prices

Saudi Arabia has raised domestic energy prices, including fuel prices, state news agency SPA said on its Twitter account on Monday.

4:45 AM November 25 2016