Middle East and Africa

摘要

Oil prices boost Middle East budgets Higher than expected crude prices last year allowed Mideast Gulf oil producers to turn expected budget deficits into surpluses. Kuwait is likely to have a total budget surplus of up to $36bn in the year to April, compared with a projected deficit of $26.3bn. The government’s budget was based on an average oil price of $60/bl, while its crude exports fetched $107/bl during the first nine months of the financial year. Oman generated a surplus of $3bn in January-November 2011 compared with an expected $2.2bn deficit for the full year. Oman based its budget on an oil price of $58/bl but received $103/bl during the 11 months (WPA, 25 July, p4).