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1.8 MB
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Type:
Financial research report / economic analysis
File Size:
1.8 MB
Summary
This document is page 21 of a Merrill Lynch economic report titled 'GEMs Paper #26', dated June 30, 2016. It provides a financial analysis of fiscal consolidation efforts, likely focusing on Saudi Arabia (indicated by references to 'Nitaqat' quotas and 'NTP' targets). The text analyzes potential revenues from foreign worker fees, green-card programs, subsidy reforms, oil prices, and sin taxes, while warning of political obstacles and economic disincentives. The document bears a 'HOUSE_OVERSIGHT_016131' Bates stamp, indicating it was part of a document production to the US House Oversight Committee.
Organizations (2)
| Name | Type | Context |
|---|---|---|
| Merrill Lynch | ||
| House Oversight Committee |
Timeline (1 events)
2015-12-01
Reference to gasoline and diesel price rise percentage
Domestic (implied Saudi Arabia based on Nitaqat reference)
Key Quotes (4)
"This would thus imply that fiscal consolidation is likely to fall short of narrowing imbalances materially without a sustained oil price recovery."Source
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Quote #1
"The fees on excess foreign worker quotas and the green-card like program targeted proceeds are difficult to reach, in our view."Source
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Quote #2
"The large fee amount would likely be a material disincentive to private sector corporates and a squeeze on their profits."Source
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Quote #3
"One of the obstacles to meeting the subsidy reform target is likely to be political in nature given the impact on inflation and household incomes."Source
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Quote #4
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