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Oil importers in Middle East face outside risk, IMF

Al-Bawaba | 10.14.12

Oil-importing countries in the Middle East are experiencing heightened risks as their budgets and external balances deteriorate, the International Monetary Fund (IMF) said. Countries such as Egypt, which are dependent on fuel imports, are struggling to recover after the crisis in Europe sapped export markets, energy prices rise, and the government spends to meet social demands stimulated by last year’s unrest, the fund said in a report yesterday.

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