The announcement comes one year after the Gulf kingdom, the world's biggest crude exporter and the Middle East's largest economy, recorded its first budget surplus in nearly a decade in the wake of Russia's invasion of Ukraine which led to a boom in oil prices.

The kingdom's finance ministry estimated expenditures for 2024 to be at US$333.5 billion. According to the ministry, the projection is based on the government's fiscal objectives to expand strategic spending at the sectoral and regional levels, broaden and diversify the economic base, as well as improve public services, among others.

Beirut, Lebanon -- Acting Lebanese Central Bank Governor Wassim Mansouri has said the bank will not be providing government lending to cover Lebanon's 2023 state budget deficit. This applies to both the Lebanese lira and the US dollar. "The Central Bank has no plans to address the nation's deficit through...

Washington, United States - The US trade deficit narrowed in June on a bigger pullback in imports than exports, according to government data released on Tuesday. The overall trade gap came in at $65.5 billion in June, down from a revised $68.3 billion figure in May, Commerce Department data showed. This...

RIYADH, SAUDI ARABIA - Saudi Arabia posted a budget deficit of SAR5.3 billion ($1.41 billion) in the second quarter of 2023, the finance ministry said on Thursday. Saudi Arabia, the world's top oil exporter, recorded a budget surplus of almost $30 billion in 2022 as the high prices of the...

Amman, Jordan-- Exports to Greater Arab Free Trade Area (GAFTA) countries from Jordan increased 16.6%, amounting to $1.60 billion, compared to about $1.38 billion for the same period last year. Foreign trade data issued by the Department of Statistics (DoS) indicated a drop in the value of the kingdom's imports...

Lower oil prices and volumes attributed to the estimated deficit, according to a newspaper report. MP Osama Al-Zaid said the draft budget estimates oil revenues of 17 billion dinars, a 19.5 percent decrease from the previous budget.

Cairo, Egypt--Egypt’s current account deficit fell 77.2 percent to $1.8 billion in the first half of the North African country’s current fiscal year. According to its central bank, the deficit reduction was fueled by Egypt’s current account turning a $1.41 billion surplus in the October to December quarter of 2022...

AMMAN, JORDAN - Value of Jordanian exports to European Union countries increased during January-February period of 2023, by 108.5 percent to reach about US$87 million (JD62 million), compared to about US$42 million (JD30 million) for the same period last year.According to foreign trade data issued by the Department of Statistics...

BRUSSELS, BELGIUM  - The EU trade in goods registered a large deficit of US$469 billion (€432 billion) in 2022, reaching its lowest level since the start of the time series in 2002. The deficit was due, in particular, to a steep rise in the value of energy imports, which started...

Washington, United States--President Joe Biden will unveil a proposed budget on Thursday that would reduce the US national deficit by $3 trillion over the next decade, in part by raising taxes, the White House said. The budget plan "will cut the deficit by nearly $3 trillion over the next 10 years,"...

At the time of the approval, the budget was estimated to hit a deficit of QAR 8.3 billion. "The deficit estimate was a result of the expenses related to hosting the World Cup, including security and all events accompanying the FIFA World Cup Qatar 2022,”  said Qatar’s Finance Minister Ali...

US trade gap widened to a record in 2022, though expanding less than expected in December, government data said, capping off the year on robust imports and strong spending. The overall trade gap grew US$103 billion from 2021 to $948.1 billion last year, according to Commerce Department data, on a...

According to an analysis based on data released by Beijing's Ministry of Finance on Tuesday, the budget shortfall for all levels of government from January to September was $980 billion, almost three times the 2.6 trillion shortfall over the same period last year.

The rise in exports was 7 percent when compared to November of the same year.

The Banque Centrale du Tunisie (BCT) board has urged for continued coordination between financial and monetary policies.

Given the current trends, the country’s GDP is expected to grow by 13.8 percent by the end of the current fiscal year as compared to the year-ago period.

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.

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...

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

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

Egypt's current account deficit widened in the first quarter of the current financial year because of a surge in imports and a slow rebound in tourism to pre-COVID-19 levels, according to central bank figures 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.

Bahrain has succeeded in lowering its deficit by 35 percent to $1.38 billion in the first half of 2021, compared with the same period last year.

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.

60 percent of the deficit relates to the region's largest economy, Saudi Arabia S&P predicts central government deficits will reach about $355 billion cumulatively between 2021 and 2024    Budget deficits of the six-nation Gulf Cooperation Council (GCC) bloc are set to fall sharply to about $80 billion in 2021...