Issue  No.67
28 March 2016

This report is designed to give you a snapshot about the MENA region tackling multiple issues:


          40.88  USD          1,219  USD


    Economic Outlook
  • Oman's Public Authority for Civil Aviation (PACA) is planning to raise air traffic fees throughout the sultanate. It is worth mentioning that the decision is part of a series of steps taken by the country to strengthen its finances as it grapples with a big budget deficit caused by low oil prices.
  • The Egyptian central bank's governor has announced that the country's step to devaluate the currency has attracted 500 MM USD of foreign investments in treasury bills. Moreover, he added that 22 BN USD were pumped into the banking system to clear the heaped imports at Egyptian ports.
  • The Pakistani Prime minister has revealed that his country is planning to cooperate with Iran to increase the annual trade volumes between the two countries to 5 BN USD by 2021.
  • Oman's government has announced plans for the development of a major Airport City at Seeb anchored by Muscat International Airport with 5 BN USD investments.
  • The United Arab Emirates central bank's foreign assets has reached 306.1 BN AED (83.4 BN USD) with 11.4% growth compared to last year.
  • Oman's ministry of oil and gas has announced planning to cut state subsidies for liquefied petroleum gas (LPG) as part of its steps to ease the strain on government finances caused by low oil prices.
  • Bahrain's statistical center has announced that the country's consumer price index (CPI) for February 2016 has risen at a rate of 2.9% mainly affected by the increase in the prices of food and non-alcoholic beverages.
  • Abu Dhabi's gross domestic product (GDP) has reached around 200 BN AED in the third quarter of 2015, with a growth rate of 5.5 % compared to the same period last year.
  • Qatar's foreign merchandise trade surplus has reached 7.4 BN QAR in February 2016 with 3% increase compared to January same year.
  • According to Jordan's ministry of finance, the country's net public debt has increased reaching 22.8 BN JOD at the end of 2015 up from 20.5 BN JOD last year.
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