Follow the latest in economic news and developments about the Arab transition countries.
The IMF said on Friday it had completed a review of its loan program for Tunisia, clearing the way for disbursement of a $225 million tranche. The latest disbursement brings the total of funds released under the program to about $888.4 million out of a two-year credit worth about $1.78 billion. [Reuters]
Finance Minister Hany Dimian said that “we expect the budget deficit in the new budget to stand at EGP 340-350 billion Egyptian pounds ($48.60-$50.03 billion), which is around 14 to 14.5 percent of GDP”. Back in March, Dimian projected fiscal deficit will reach 10-10.5 percent. [Reuters]
The Tunis Stock Exchange may have seen significant events in 2005-2010, but performance was the key. The capitalization-weighted index Tunindex reported a strong compound annual growth return (CAGR) of 26 percent. However, the industry remains dominated by the Bond SICAVs, which collect almost 90 percent of the assets under management. [Zawya DJ (sub.-required)]
An UN official has issued a new warning about the humanitarian crisis in Yemen ahead of a gathering of international donors in London that expected to put this issue on the table. Johannes van der Klaauw, UNHCR Yemen Representative and Humanitarian Coordinator, said that the country is in need of about $592 million (AED 2.17 billion) as an emergency humanitarian fund to respond to the humanitarian crisis. [Gulf News]
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Op-ed: Illegal housing boom is big challenge for Egypt’s leader | Reuters
Construction starts in Jordan’s first wind farm | ANSAMed