World Bank Reveals Details of $3b Loan to Egypt

• Monday, 1st February 2016
• by Egypt Oil & Gas

The World Bank has revealed details of the $3b loan to the Egyptian government, which entails raising tax revenue and electricity prices, while reducing government’s wages and energy subsidies, Egypt Independent wrote...

IMF Recommends Bahrain to Adopt Further Austerity Measures

• Sunday, 31st January 2016
• by Egypt Oil & Gas

Bahrain has announced austerity measures in line with IMF recent recommendations, in a bid to return to international bond market and to finance its expanding budget deficit of 15% of the country’s GDP, reported...

Riyadh’s 2016 Budget Targets Deficit by Cutting Public Spending

• Tuesday, 29th December 2015
• by Egypt Oil & Gas

Saudi Arabia has unveiled plans to lower its current budget deficit of $97.9b to $87b in 2016 by making government projects more efficient and cost-effective, cutting public spending by introducing reforms to energy s...

Low Oil Prices Prompt Iraqi Bond Issues

• Wednesday, 24th June 2015
• by Egypt Oil & Gas

Iraq hopes to meet investors by the end of July to present plans for a $5 billion bond issue, the country’s finance minister Hoshiyar Zebari told Reuters on Monday. The government has hired JP Morgan, Citibank a...