budget deficit

  • Electricity Prices to Increase in July

    Electricity Prices to Increase in July

    Sunday, 24th February 2019

    Egypt's electricity budget deficit reached EGP 21 billion, and there is no escape from the electricity prices increase of July 2019.

  • Egypt’s Budget Deficit Decreases to 1.9% in Q1 2018/19

    Egypt’s Budget Deficit Decreases to 1.9% in Q1 2018/19

    Wednesday, 21st November 2018

    Egypt's budget deficit decreased to 1.9% during Q1 of fiscal year (FY) 2018/19, compared to 2% in the previous fiscal year, stated Minister of Finance Mohamed Maait.

  • Tunisia Raises Fuel Prices for Fourth Time in 2018

    Tunisia Raises Fuel Prices for Fourth Time in 2018

    Monday, 3rd September 2018

    The Tunisian government has increased fuel prices for the fourth time in 2018, raising them by about 4% as the government attempts to reduce the budget deficit and meet the financial demands stipulated by foreign lenders.

  • Egypt’s Budget Deficit Falls to 9.8% in FY 2017/18

    Egypt’s Budget Deficit Falls to 9.8% in FY 2017/18

    Sunday, 29th July 2018

    The Egyptian budget deficit for fiscal year (FY) 2017/18 was 9.8% of gross domestic product (GDP), a decrease from 10.9% the previous year, achieving a primary fiscal surplus for the first time in 15 years, deputy finance minister Ahmed Kouchouk stated on July 26.

  • El Molla: “This Is Not The Last Fuel Price Hike”

    El Molla: “This Is Not The Last Fuel Price Hike”

    Thursday, 21st June 2018

    Fuel prices will witness another increase in 2019, Egyptian oil minister Tarek El Molla announced on June 20, only four days after the latest fuel price hike.

  • Ismail: Egypt’s Power, Gas Reserves Sufficient until 2026

    Ismail: Egypt’s Power, Gas Reserves Sufficient until 2026

    Monday, 22nd August 2016
    Egyptian Prime Minister, Sherif Ismail, stated in a meeting with editors-in-chief of national newspapers, that Egypt's strategic reserves of gas and electricity are sufficient to address domestic demand till 2026.
  • Egypt’s Fuel Subsidies Fell 23%

    Egypt’s Fuel Subsidies Fell 23%

    Tuesday, 16th August 2016
    Egypt's spending on petroleum subsidies fell by 23% in 2015/16 to EGP 55b ($6.27b) from a targeted EGP 61b, Head of the Egyptian General Petroleum Corporation (EGPC),Tarek al-Hadidi said, citing a decline in global oil prices as the main drive to absorb the cuts.
  • OPEC Files $99.6b in First Collective Deficit since 1998

    OPEC Files $99.6b in First Collective Deficit since 1998

    Monday, 27th June 2016
    The OPEC member-states registered their collective budget deficit of $99.6b in 2015, the first since 1998, according to the OPEC official annual report.
  • Saudi Arabia Seeks Investors for Solar Plants

    Saudi Arabia Seeks Investors for Solar Plants

    Sunday, 12th June 2016
    Saudi Electricity Co. (SEC) is seeking bids from international developers to build two solar-power plants in Al-Jouf and Rafha in the north of the country.
  • Riyadh Likely to Boost First Sovereign Loan to $10b

    Riyadh Likely to Boost First Sovereign Loan to $10b

    Tuesday, 12th April 2016
    Saudi Arabia has seen substantial demand for its first foreign borrowing in more than a decade, and looks likely to increase the size of the loan up to $10b, up from the initially targeted $8b, banking sources said.