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Saudi Arabia is expecting a surplus of $24 billion (SR90 billion) from 2022 budget; first time since 2013, reports say. A cabinet statement has indicated that the Gulf country will achieve a total revenue for 2022 of SR1.05 trillion, while Read more
UAE Tuesday adopted the general budget for the years 2022- 2026with federal spending of $78.96 billion, Zawya reports. The cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai also Read more
The UAE federal government disclosed Tuesday next year budget with keen attention put on social development and benefit as the country embarks on the promotion of social growth. Out of $13.9 billion planned for 2018, 43 per cent of the Read more
Kuwait, which has posted a budget surplus for 16 years in a row, has approved for the third consecutive time a budget with expenses surpassing the income forecasted by the state despite the introduction of several austerity measures to reduce Read more
After 16 years of budget surplus dating back to the end of the 1999 fiscal year, Kuwait has announced that it registered its first budget deficit in 2016. Finance Minister Anas al-Saleh had informed the parliament last month that they Read more
Kuwait’s budget for the new fiscal year that began on April 1 has a deficit of around 40% mainly due to lower estimates of oil prices. The huge deficit has raised eyebrows but it is believed that it will be Read more
The tussle between the government and lawmakers over the 2015-2016 budget could soon be coming to an end after both sides agreed to make concessions. The parliament’s financial and economic affairs committee approved a revised edition of the budget on Read more