The Kuwaiti cabinet has instructed all government departments to cut spending by at least 10 percent from the current fiscal year’s budget, it stated in a released statement on Monday, according to
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Lebanon’s President Michel Aoun summoned the governor of the Lebanese central bank, Riad Salameh, after his decision to considerably cut fuel subsidies. As the central bank’s foreign currency reserves touched a critical
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More than half of Lebanon’s migrant workers are in need of “urgent humanitarian assistance” to survive the country’s economic crisis, which has led most of the population into poverty, the UN warned
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Kuwait’s Finance Ministry issued a statement regarding the economic outlook of the Gulf country in the last fiscal year that ended on March 31. According to the statement, Kuwait’s budget deficit hit
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Yemen’s internationally recognized government reportedly decided to reduplicate the US dollar exchange rate, which is used in determining customs duties on non-essential goods in areas controlled by itself. According to a senior
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In a press conference held on Monday, Kuwait’s Central Bank governor Mohammad Al-Hashel emphasized that more reforms are essential to provide economic stability in the country. Stressing the inadequacy of existing monetary
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Rating agency Standard & Poor’s (S&P) Global Ratings downgraded Kuwait’s rating by one notch on the ground of the Gulf country’s lack of a funding strategy to fund its deficit. The news
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Turkey’s exports to Libya have increased by 72.3 percent in the first 6 months of this year compared to the same period in 2020, reaching $1,2 billion in volume. It is stated
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Two public hospitals in Lebanon have been forced to bolt their doors from Thursday, July 15, if officials refrain to fund immediately needed provisions, funds and materials as the healthcare sector inches
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The socioeconomic situation in the Gaza Strip depreciated because of the Israeli belligerence in May, a report by the United Nations, the European Union and the World Bank has found. The Gaza
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