The regional slowdown at the start of this year has further to run. This will continue to be led by the Gulf countries, where the drag from oil output cuts will intensify and low oil prices will prompt fresh fiscal austerity. Elsewhere, balance sheet concerns cloud the outlook for some of the region’s smaller economies. But Egypt and Morocco should be regional outperformers. Overall, we have pencilled in regional GDP growth of 2.3-2.8% in 2019-21. Our forecasts for most countries are below the consensus.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services