Pakistan's new government, grappling with soaring inflation and political unrest, unveiled a 9.5 trillion rupee ($47 billion) budget Friday, earmarking more than 40 percent to service the country's massive foreign and domestic debt.

Saudi Arabia has partnered with Novartis, the Swiss pharmaceutical company, to ramp up the kingdom's bio pharmaceutical capacity.

Jordan ranked first in the Arab world and 32nd globally on the budget transparency, according to the Open Budget Survey (OBS) 2021, which was published by the International Budget Partnership. Jordan scored 61 out of 100, exceeding the global average of 45 out of 100, according to the International Budget...

Shaken by the pandemic, the World Health Organization's member states agreed Tuesday to overhaul how they fund the UN health agency, giving it much more money to spend on its own priorities. The budget revamp is aimed at strengthening the organization and making it more agile when responding to global...

A bid by Ukraine to join the European Union would not be finalized for "15 or 20 years," France's Europe minister said Sunday, pouring cold water on Kyiv's hopes for quick entry in the wake of Russia's invasion. "We have to be honest. If you say Ukraine is going to...

Iraq's financial reserves are expected to reach $40 billion in case the current fiscal year ends without enacting a budget law, according to Mazhar Muhammad Salih, advisor to Iraq's Prime Minister Mustafa al-Kadhimi. Local media reports quoted Salih as saying that "it is not possible to pass any law by...

Pakistani Prime Minister Shehbaz Sharif, who took power with a coalition that removed Khan in a no-confidence vote last month, has vowed to jumpstart the moribund economy

Lebanon's electricity company is charging $16 million to supply power on the day of the May 15 parliamentary polls, a sum that exceeds the overall election budget by nearly 30 percent, the interior minister said.

The privatization move will also help the regional governments in maintaining better economic growth, increasing private participation and attracting foreign investments.

The UAE has approved a $3.26 billion housing loan budget for Sheikh Zayed Housing Program in a cabinet meeting on Monday.

The speakers of the parliaments and councils of the Arab countries, in a meeting, reviewed the topics to be discussed in the 32nd Conference of Arab Inter-Parliamentary Union (IPU). They also discussed the reports prepared by the Arab IPU general secretariat, its specialized committees, and its executive committee. The officials...

India will have its own digital currency starting 2022-23, Finance Minister Nirmala Sitharaman said while announcing the country’s budget for the upcoming financial year that begins April 1. The Central Bank Digital Currency (CBDC) would be issued by the Reserve Bank of India, the country’s central bank.

The rise in international raw material prices has increased subsidy spending in Tunisia, Algeria, and Morocco.

The meeting was held via video conference technology, with spread of the Omicron variant of Covid-19 having stopped almost all in-person meetings globally.

Lebanon telecommunications ministry's budget would be based on two figures instead of one within the framework of the new state budget, said telecoms minister Johnny Corm. Corm said the first figure took into consideration the possibility of continuing to charge consumers the same current tariff, which is based on the...

Ajman's budget of AED2.41 billion ($656m) for 2022 has been approved by the emirate's ruler Sheikh Humaid bin Rashid Al Nuaimi, with infrastructure, community facilities and the environment accounting for 39 percent of the total allocation. Economic affairs (34 percent), public services (19 percent) and public order and safety (eight...

Sheikh Mohammed bin Rashid Al Maktoum said the budget supports the Dubai Strategic Plan 2030 and places Dubai at the 'forefront of worldwide efforts to promote recovery'.

With the worst of the repercussions of Covid-19 expected to be in the rearview mirror, there are some specific sectors Saudi Arabia is focusing on in 2022.

The country is aiming for a budget surplus for the first time in eight years amidst increasing oil prices and the gradual opening of global markets, say market research firms.

The Iraqi fiscal year ends on December 31, 2021, and the effective financial management law begins from the first day of January 2022.

Syrian lawmakers have approved a draft budget for 2022 of $5.3 billion, down from $6.8 billion this year, as a spiraling economic crisis hits public finances and threatens subsidies on essential goods. A decade of war, Western sanctions and the coronavirus pandemic have devastated the Syrian economy, pushing most of...

Oil and gas returns are set to comprise 68 percent of total revenues, against 32 percent for non-oil and gas revenues.

Total expenditures were budgeted at SAR955 billion, and revenues at SAR1.045 trillion, giving a surplus of SAR90 billion.

The 2022-2023 budget allocates about $5 billion to boost "defense capacities and strategic research", up from $4 billion the previous year.

A minister said the rise in budget was due to the ‘temporary increase’ in expenses related to the World Cup.

The deficit had fallen to RO1 billion ($2.6 billion) by October-end from RO2.71 billion ($7.05 billion) during the same period in 2020.

Tunisia's budget deficit has narrowed to nearly 3.8 billion ($1.3 billion), at the end of September 2021, against 4.9 billion dinars, in September 2020, down 23 percent, local media reports said, citing Finance Ministry's budget data. The decrease in the budget deficit is due to the increase in budgetary resources...

Iraq’s general budget for 2022 will focus on implementing a set of investment projects in line with diversifying economy and achieving sustainability.

Saudi Arabia might see a contraction in fiscal budget deficit this year, according to Riyadh-based Jadwa Investment.

Basra province gets only 1 trillion dinars out of the total Iraqi budget of 130 trillion Iraqi dinars ($89 billion), according to deputy governor Dorgham al-Ajwadi.

Israeli MPs approved a 609-billion-shekel ($194-billion) spending plan for 2021 and are to resume debate later on 573 billion shekels for next year. It is being seen as a victory for the coalition that unseated Benjamin Netanyahu in June but has only 61 out of 120 seats in parliament.

In June, the government passed the budget for 2021-22, which projected spending of US$ 76 billion and a deficit of US$ 40 billion.

The finance ministry lowered its 2021 budget deficit target to 5.5%-5.7% of gross domestic product from 6.8% due to higher-than-expected tax revenues, reflecting a rapid economy recovery. It projects a 3.9% deficit in 2022.

The cabinet also approved the 2022 budget, which calls for spending of AED 58.931 billion ($16.05 billion).

Saudi Arabia is confident that it will have budget surpluses from 2023 with the kingdom’s economy showing a “noticeable and anticipated uptick.”

Al-Rajhi Capital believes that Saudi oil revenues will touch $145.3 billion at the end of 2021, while total state revenues could go up to $246 billion. The assessment was made on the Saudi budget forecast released on Thursday.

Saudi Arabia expects to post a deficit of 2.7% of gross domestic product this year and to reduce it further next year, to 1.6% of GDP, it said in a preliminary budget statement for 2022.

Saudi Arabia has succeeded in saving nearly $133.3 billion during the last four years by virtue of efficiency and budgetary discipline, according to the kingdom’s Finance Minister Mohammed Al-Jadaan.

That amount reportedly equals 87 percent of the total budget allocated to a credit line for agricultural mechanization.

The budget proposal was approved in August by the coalition government of Prime Minister Naftali Bennett

Better days for Saudi economy seem to be on the horizon as the kingdom’s budget deficit has narrowed sharply in the first six months of this year.

A protracted political crisis under former prime minister Benjamin Netanyahu generated political instability that prevented the passing of a state budget

Kuwait Investment Authority, which manages the fund, expects the fund's durability will not be affected by withdrawals

UAE’s budget balance improved as its economy recovers It will enter 25 new international markets for foreign trade Boosted by an improved budget balance in the first half of the year, as the economy began recovering from the bruising effects of the Covid-19 pandemic, ruler of Dubai Sheikh Mohammed bin...