budget | Egypt Oil & Gas - Part 6
Oman Awaits Approval of Ambitious Tax, Subsidy Reforms
Oman's top advisory body, the Shura Council, has voted for the biggest increase in corporate taxes in many years aimed at offsetting a budget deficit over oil price slump.
Nigeria To Boost Expenditure as Oil Deficit Widens
Nigerian President, Muhammadu Buhari announced plans to raise the government spending to $31b, up 20% in 2016 through extensive borrowing at home and abroad amid falling oil prices. Nigeria Proposes $30.1b Budget with 15% Expenditure Rise for 2016
The Nigerian government proposed a $30.1b national budget for 2016 estimating a 15% rise in expenditure compared to 2015, pledging investments in infrastructure projects, and social welfare programs.
Algeria’s 2016 Budget Raises Energy Prices
Algeria has increased gasoline, diesel, gas and electricity prices in its 2016 budget to cope with a sharp fall in energy earnings and ahead of further austerity measures.
El Molla: Fuel Subsidy Cuts Reducing Budget Deficit
Egyptian Petroleum Minister, Tarek El Molla, said that cuts in fuel subsidies are quickly reducing Egypt’s budget deficit. The Financial Times reports that spending on fuel subsidies will be reduced from $9b in fisca ...
UAE Struggles Over Predicting Ideal Oil Price for its Budget
Oil at $50 a barrel is a “gift to the world” as prices should be low enough to spur economic growth, explained Ali Al Mansoori head of Abu Dhabi’s Department of Economic Development
Egypt Saved EGP 30b as Oil Prices Dip
Sources at the Petroleum Ministry revealed to Egypt Oil & Gas that the global price of oil reaching $48 a barrel will save the state nearly EGP 30b during the current fiscal year (FY) alone, as the government has set ...
South Sudan Struggling with Oil Revenues and Cooperation
South Sudan's parliament passed a budget for 2015/2016 on Tuesday
