David Robinson, the IMF vice-director, has called on the African nations to adopt a package of policies to better ride out the ill-effects of the collapse of oil prices
Egypt expects to import 28.6 million tons of crude oil, liquefied natural gas (LNG) and other oil products worth a total of almost $16 billion in 2015-16, the planning ministry said.
Egypt's President Abdel Fattah El-Sisi on Thursday ratified the state budget for the fiscal year 2015/16 following amendments by the ministry of finance to slash projected budget deficit, according to Egyptian state TV.
“Oil subsidies during the current FY (to end June 30) amounted to 70 billion EGP, down from an estimated 100 billion EGP in the state budget,” Molla said.
Egypt's draft 2015/2016 budget earmarks 61 billion Egyptian pounds ($8 billion) for fuel product subsidies, Tarek El Molla, chairman of state-run Egyptian General Petroleum Corp (EGPC), said in a statement on Saturday.
Recently released stats expose the effects of the plunge in oil prices on the fiscal systems of the Gulf Cooperation Council (GCC) economies. However, it is fair to claim that the Gulf countries at large are demonstr ...
The Iranian parliament (Majlis) has approved a five-percent increase in fuel prices for the next fiscal year starting March 21, amid falling oil prices.