budget deficit

Electricity Prices to Increase in July

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 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

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 ...

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

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 ...

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

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

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 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 o ...

OPEC Files $99.6b in First Collective Deficit since 1998

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 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

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.

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