Middle East & North Africa Economics Update Egypt: rates to remain on hold until Q4 The Central Bank of Egypt (CBE) announced it kept interest rates on hold on Thursday evening and, with inflationary pressures building, the CBE is likely to refrain from cutting rates in the near term... 18th June 2021 · 3 mins read
Middle East & North Africa Economics Update Iran: nuclear deal, elections and the economy Negotiators appear to be closing in on an agreement to revive Iran’s nuclear deal which, if revitalised, would provide a substantial lift to Iran’s economy – it could plausibly expand by 8-10% per... 7th June 2021 · 6 mins read
Middle East & North Africa Economics Update Saudi: easing of restrictions paves way for H2 recovery Saudi Arabia’s economy suffered a small downturn in Q1 and the recovery so far this quarter has been slow-going. But, with the vaccine roll out picking up pace and restrictions being relaxed, coupled... 2nd June 2021 · 3 mins read
Middle East & North Africa Economics Update Tourism set for uneven recovery Strong vaccine rollouts in the Gulf and Morocco have allowed for an easing of travel-related restrictions but there is still a long way to go and recoveries in tourism sectors are likely to be slow... 26th May 2021 · 3 mins read
Middle East & North Africa Economics Update Egypt’s gas sector to provide a boost to the recovery Egypt’s natural gas sector struggled last year as the slump in regional energy prices caused production and exports to fall. But the re-opening of key LNG infrastructure in recent months and prospects... 20th May 2021 · 5 mins read
Middle East & North Africa Economics Update Saudi: fiscal purse strings kept tight, for now Saudi Arabia’s budget deficit narrowed in the first quarter of the year on the back of higher non-oil revenues and a sharp reduction in capital spending. Higher oil revenues will support a further... 11th May 2021 · 3 mins read
Middle East & North Africa Economics Update Lessons from the UAE’s vaccine rollout The UAE has been one of the global leaders in its vaccine rollout thanks to the aggressive procurement of vaccines, numerous vaccination centres and wide eligibility. Containment measures have been... 5th May 2021 · 5 mins read
Middle East & North Africa Economics Update Saudi: weak Q1, recovery to resume over rest of 2021 Saudi Arabia’s economy is likely to have suffered a fresh downturn in Q1 on the back of oil production cuts and tighter virus containment measures. But with the vaccine roll out picking up pace and... 4th May 2021 · 3 mins read
Middle East & North Africa Economics Update Central Bank of Egypt to keep rates on hold, for now The Central Bank of Egypt (CBE) opted to keep interest rates on hold at its meeting today and, with inflation likely to rise over the coming months, we think policymakers will keep rates unchanged... 28th April 2021 · 2 mins read
Middle East & North Africa Economics Update Revisiting the risks in the UAE’s banking sector The UAE banking sector’s non-performing loan ratio has hit its highest level since 2005, although banks’ high level of profitability coming into the crisis has helped to shield them so far. And strong... 14th April 2021 · 3 mins read
Middle East & North Africa Economics Update Tighter virus restrictions weigh on Saudi recovery Saudi Arabia’s tightening of COVID-19 restrictions has weighed on activity in the non-oil sector and the voluntary oil output cut has hit the hydrocarbon sector too. But, with the vaccine rollout... 30th March 2021 · 2 mins read
Middle East & North Africa Economics Update Egypt's public finances on the right track Despite the recent rise in bond yields, we think that Egypt’s public debt ratio will resume its downward trend in the coming years. 24th March 2021 · 3 mins read
Middle East & North Africa Economics Update Saudi still failing to entice foreign investors The Saudi government’s efforts to improve the Kingdom’s business environment and attract foreign direct investment in recent years haven’t had the desired effect. One result is that the government is... 4th March 2021 · 3 mins read
Middle East & North Africa Economics Update Saudi recovery remains weak at start of 2021 Saudi Arabia’s economic recovery has continued to be slow going as the tightening of COVID-19 restrictions has weighed on activity. The slow start to the vaccine rollout and the Kingdom’s voluntary... 1st March 2021 · 3 mins read
Middle East & North Africa Economics Update Lebanon: no signs of a turnaround A severe COVID-19 outbreak has added to the long list of troubles in Lebanon and, given renewed social unrest and the fact that talks with both the IMF and international creditors are at a standstill... 17th February 2021 · 6 mins read
Middle East & North Africa Economics Update Saudi unemployment rate to fall only gradually Saudi Arabia’s unemployment rate has risen sharply in the past year and, while we expect it to fall back, the weak recovery means that it might take many years before it gets close to its pre-pandemic... 10th February 2021 · 2 mins read
