#offset increases

DUBAI, United Arab Emirates | IMF: Mideast oil producers buoyed by higher prices, for now

DUBAI, United Arab Emirates— Higher oil prices are helping to offset increases in public spending by the Middle East’s oil exporting heavyweights like Saudi Arabia, with these countries narrowing their budget deficit by $77 billion, the International Monetary Fund said on Tuesday.

The findings, which came in the IMF’s new regional outlook report, said the overall fiscal deficit for the Mideast’s…