The funds will be invested in public services, energy, sanitation, social security, education and administrative reforms.
Author: From the Newsroom
Revenues from foreign sales amounted to US$ 1.9 billion in the first four months this year. Egypt was the sixth leading buyer and the United Arab Emirates rank tenth.
The first round of tenders under the shared oil production regime will take place in October. It was previously scheduled for November.
The country accounted for 12% of foreign sales by Brazilian cooperatives from January through April. Total export revenues stood at US$ 1.838 billion, the highest figure ever.
An International Monetary Fund assessment shows that the country’s Gross Domestic Product and per capita income should be up this year due to petroleum exploration, but advises economic diversification.
Non-oil industries will grow by 7.6% this year and the country’s GDP should be up 4.4%, while oil output is expected to decline. The information was released by the International Monetary Fund.
The country posted US$ 3.4 billion in tourism earnings in quarter one this year, up 16.2% from quarter one last year.
In a report disclosed on Tuesday (21), the International Monetary Fund states that countries that export oil must reduce their dependence on the commodity. The importers, in turn, need profound economic reform.
Eight enterprises are attending the furniture and decoration fair in Dubai. Brazilian companies’ exports to the Emirates were up 19% in quarter one.
The growth of the economy of the Arab country was boosted by oil, expansion in the non-oil sector and by greater government spending.
The fluid catalytic cracking refinery should be built in the Emirates and should start operating in 2015. The process speeds up fuel production from heavy oil.
In 2030, developing nations should concentrate US$ 158 trillion, 50% of the global capital stock. Latin American and Asian countries will have the lions share. The information was disclosed by the World Bank.
The acoustic guitarist Elfateh Hussain will be an attraction of Virada Cultural, an event due to take place at several spots in São Paulo over the weekend.
There are 271,000 unemployed persons in the Arab country. Among youths aged 20 to 24, the rate is 41.1%.
