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OPEC Member Countries Economy – Feb 2013

Source: OPEC 3/10/2013, Location: Middle East

The Central Department of Statistics and Information reported that the Kingdom of Saudi Arabia’s CPI (using a base year of 1999=100) is expected to remain manageable throughout the forecast period. The level of the CPI was 3.8% y-o-y in December. Based on the Economist Intelligent Unit’s predictions, CPI in Iraq increased at a 4.8% y-o-y rate in October and is expected at around 6% for the year 2013.

According to a December 2012 report from Markit and HSBC, PMI in Saudi Arabia and UAE has seen a positive trend, indicating continued growth in the coming year. A report from the Bank of Algeria for 2013 showed that the Algerian government has approved a budget that will set spending at $90.5 bn, down by 11% from the figure agreed to in the 2012 supplementary budget. The official aim is to control the money supply in order to contain inflation.

Furthermore, Venezuela’s Central Bank announced that the economy accelerated 5.5% in 2012 and that inflation is expected to increase to 27.5% y-o-y at the end of 2013.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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