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The United Arab Emirates (UAE) approved a zero deficit federal government budget on Sunday as oil prices continue to be low. The estimated dh48.557 billion budget for 2016 allocated almost 56% to education, social development, public services and health. Vice Read more
Iran is expected to play an important role in the economic growth of the Middle East and North Africa (MENA) with an increase in its oil exportation according to the semi-annual World Economic Outlook report released by the International Monetary Read more
Proposals made to Kuwait by the International Monetary Fund (IMF) to cut the 2015 budget deficit estimated at around $23.2 billion was not welcomed by the National Assembly because some of the proposed reforms will hurt the livelihood of the Read more
Riyadh has been signaled out by the International Monetary Fund (IMF) after consultations about the impact the low oil prices could have on its coffers, especially that almost half of the kingdom’s budget expenses are allocated to salaries, wages and Read more
The seventh and final review of Jordan’s economic program supported by a Stand-by Arrangement (SBA) has come to an end after the International Monetary Fund Executive Board concluded that the country was able to resist to “severe external shocks” with its reforms. Read more
PM Abdullah Ensour has reshuffled his cabinet again; a week before municipal elections. The latest action is reported to be motivated by economic decisions. The last reshuffling took place in March. Although the March reform reduced the cabinet to 19 Read more
Morocco and Jordan have received over $ 8 billion financial assistance from the International Monetary Fund to help the two countries economies withstand the fallouts of the political turmoil and popular unrests rocking the MENA region. A $ 6.2 billion Read more
Saudi Arabia economy is expected grow by 6 pc in 2012 from 7.1 pc increase posted last year, says the International Monetary Fund in its latest annual review of the world major oil exporter and producer. The private sector will Read more