Hydrocarbons bearing on macro-financiers balance of Algeria

Impact of the decline in the price of Hydrocarbons bearing on macro-financiers balance of Algeria of 2000 to 2016 . . .   This contribution is a very brief summary of a lengthy report titled ‘Impact of the Decline in the Price of Hydrocarbons on the macro-financiers and macro-social balances of Algeria (1). Any socio-economic model […]

GCC countries 2017 Financial Budgets & Plans

It is at this time when all GCC countries 2017 Financial Budgets & Plans are planned, reviewed and finalised. We reproduce excerpts of selected media in an effort to try and bring the feel of the prevailing atmosphere. Oman’s Finance Ministry is looking at cutting expenditure again in the state budget for next year to reduce a deficit caused by low oil prices, sources briefed on the ministry’s thinking told Reuters last Tuesday. Gulf Business reported that a draft budget for 2017, foresees a 5 per cent cut in spending from this year’s budget, and no increase in revenues, the sources said. The draft assumes an average oil price of $45 per barrel. The ministry declined to comment on its 2017 budget plan, which is expected to be released around the end of this year or early next. The 2016 budget envisaged state expenditure of OMR11.9bn – down 11 per cent from actual spending in 2015 – and revenues of OMR8.6bn; officials said their 2016 economic plans also assumed an average oil price of $45. The Financial Tribune Saudi Arabia will fall into recession next year for the first time since 1999, according to a new analysis. The kingdom’s non-oil sector [ . . .]