Follow the latest in economic news and developments about the Arab transition countries.
“The 2015 Finance Bill should provide a basis for promoting the implementation of measures to support foreign reserves, notably through strengthening mechanisms to support exporting and exporting firms and promote support mechanisms for financing and access to foreign markets, especially in the Arab and African markets,” according to the 2015 budget bill guidelines. [LNT, French]
Egypt’s Finance Minister Hany Dimian has foreseen that budget deficit will rise in fiscal year 2014-15 as the budget does not assume any of the financial aid from overseas that has helped contain the gap this year. [CTVNews]
More news likely to put downward pressure on oil prices overnight as it emerged that Libya’s largest oil-exportingEs Sider port is to resume service operations next week. The port is capable of loading around 340,000 barrels of oil per day and there are some big tankers anxiously waiting to start taking on the crude that’s been piling up in storage in Libya. [WSJ, Bidsness]
The Cabinet on Wednesday approved several recommendations and projects at a meeting chaired by Prime Minister Abdullah Ensour. The Cabinet approved a recommendation by its Economic Development Committee to allow Jordan to benefit from the natural gas field discovered in Palestinian regional waters near Gaza and coordinate with the Palestinian Authority in this regard. [Al Bawaba]
Also of Interest:
Egypt see 75 percent decline in natural gas exports | DNE
MERIS: IMF lifeline still far on horizon for Egypt despite subsidy reforms | Cairo Post
Tunisia: Jomaa calls on ambassadors to attract investors | TAP
China says to broaden cooperation with Yemen | Yemen Post