Another deficit is likely, but it will be in line with EU standards, say Saudi ministers keen to keep investing in the Kingdom's economic diversification away from oil and towards Vision 2030
With subsidies still being paid, the budget deficit has ballooned from $45bn in 2024 to an expected $62bn next year. This largesse worries some, but apparently not the government
Damascus has artificially lowered prices for years, but Syrians today cannot afford basics like fuel without them, meaning its budget has become a delicate balancing act
A big rise in spending in nominal terms says much more about the collapse of the pound than government spending power, as it continues to drop subsidies, including on fuel, deepening poverty rates
The strait carries up to 20% of the world's oil exports at around 20 million barrels of oil each day. Any closure could cost the global economy greatly, even if only for a short time.
De-escalation is in the overwhelming interest of most countries in the region and the world, and we could see many extend a hand to help bring the conflict to an end
Trump and Netanyahu disagree on whether to use military force to stop Iran's nuclear programme, and Israel's punishing attack on Iran places the region on a worrisome trajectory