Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Higher oil prices are helping to offset increases in public spending by the Middle East's oil exporting heavyweights like Saudi Arabia, with these countries narrowing their budget deficit by $77 billion, the International Monetary Fund said Tuesday. The findings, which came in the IMF's new regional outlook report, said the overall fiscal deficit for the Mideast's oil exporters is projected to decline from around $118 billion last year to $41 billion this year, before narrowing to $3 billion in 2019 .The IMF also cautions that global oil prices, while potentially buoyed in the near-term by a cut in Iranian oil supply, are projected to slide down to around $60 a barrel by 2021 .
FOLLOW THIS ARTICLE