budget deficit | Egypt Oil & Gas
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, according to Reuters. Egypt is working to bri...
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 lend...
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 fin...
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, Egypt Oil & Gas reports. “We are following a five-year...
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 202...
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 glo...
OPEC Files $99.6b in First Collective Deficit since 1998
As a result to the oil-price slump that dropped government petroleum-export revenue to a 10-year low, OPEC members have registered their first collective budget deficit since 1998, The Wall Street Journal reported, ci...
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, Reuters reported. As much as 50MW of capacity will be develop...
