Economy
BOE: High energy prices in Europe are the main driver behind inflation
Inflation will remain at 2.8 percent level in 2022
Based on economic data that showed lackluster momentum
"Fitch" expects 300 basis points rise in upcoming meetings
In June, the general budget deficit amounted to 31 bn liras
Important surplus in budget first since 2013
F&B prices, transportation costs were the primary causes of rising inflation
Driven by drop in household spend, winding-down of Covid-related services
Not possible for oil sector to be in isolation from overall energy sources
Price of gasoline has gone down considerably
Inflation reached 13.6% in July, compared to 13.2% in June
Inflation is expected to decline to 8.7%.
Intense competition pressures Saudi’s underwriting results
Surplus amounted to AED 36.4 bn in Q1
Foreign investment licenses increased by 674 percent yoy
Inflation expected to peak at over 13%
The two sides also discussed ways to combat terrorist financing
Keeping the upward trend going while adamantly maintaining interest
