Middle East & North Africa Economics Update Few signs of a bonus boost to Saudi consumer spending The worst of the downturn in Saudi consumer spending appears to have passed, but there’s no sign yet that the reversal of civil service benefit cuts earlier this year has boosted the recovery. With... 19th September 2017 · 1 min read
Middle East & North Africa Economics Update Kuwait: strong balance sheet, but weak growth Kuwait’s balance sheet is the strongest in the GCC, but ongoing austerity and slow implementation of the latest development plan mean it is likely to be among the region’s weaker performers in 2018-19... 14th September 2017 · 1 min read
Middle East & North Africa Economics Update Egypt’s tourism recovery likely to be slow-going After a dreadful few years, Egypt’s tourism sector has shown tentative signs of a recovery. Government hopes that the sector can quickly return to its pre-2011 heyday are well wide of the mark, but a... 13th September 2017 · 1 min read
Middle East & North Africa Economics Update Saudi Arabia rejigging reform plans as opposition mounts Reports that the Saudi government is planning to dilute its reform plans may be the first sign that the power and influence of Crown Prince Mohammed bin Salman is starting to wane and that broader... 7th September 2017 · 1 min read
Middle East & North Africa Economics Update Egypt’s fiscal progress falls short of IMF goals Egypt’s budget deficit has narrowed sharply over the past year and the high public debt-to-GDP ratio should start to fall back soon. However, the authorities have already missed some of the fiscal... 6th September 2017 · 1 min read
Middle East & North Africa Economics Update Intrigue in the House of Saud Changes at the top of the royal family have paved the way for King Salman’s son, Mohammed bin Salman, to accede to the throne, with some suggesting that an abdication and succession could take place... 30th August 2017 · 1 min read
Middle East & North Africa Economics Update MENA equities continue to struggle Equity markets across most of the emerging world have risen over the past month but those in the Middle East and North Africa have fallen back, continuing their underperformance this year. Stocks in... 23rd August 2017 · 1 min read
Middle East & North Africa Economics Update Saudi downturn deepened in Q2 Our GDP Tracker suggests that the downturn in the Saudi economy deepened in the second quarter and we expect GDP to fall at an even steeper pace over the second half of the year. Over 2017 as a whole... 22nd August 2017 · 1 min read
Middle East & North Africa Economics Update Egyptian central bank to ease policy before year end The Central Bank of Egypt brought its tightening cycle to an end last night. With inflation likely to fall sharply over the next six-to-nine months, we expect that the MPC will start to ease monetary... 18th August 2017 · 1 min read
Middle East & North Africa Economics Update Qatar’s diplomatic crisis: the economic hit so far The early evidence suggests that the diplomatic crisis between Qatar and regional powers dealt a damaging, but apparently brief, blow to Qatar’s economy. 15th August 2017 · 1 min read
Middle East & North Africa Economics Update Saudi economy sees temporary recovery after Q1 slump Our GDP Tracker suggests that the pace of contraction in Saudi Arabia’s economy eased between March and April. However, that is likely to be temporary, and we expect Saudi GDP to fall at a steeper... 2nd August 2017 · 1 min read
Middle East & North Africa Economics Update Strains in Qatar’s markets ease There is growing evidence that the diplomatic crisis between Qatar and regional powers has (at least temporarily) hurt Qatar’s economy, but there are also signs that tensions in the country’s... 31st July 2017 · 1 min read
Middle East & North Africa Economics Update Morocco’s wider current account deficit not a cause for alarm A large chunk of the recent widening of Morocco’s current account deficit to around 5% of the GDP can be explained by a one-off jumps in import, mainly related to the expansion of capacity in the... 28th July 2017 · 1 min read
Middle East & North Africa Economics Update Upward pressure on Egyptian pound likely to wane Egypt’s central bank appears to have been intervening in the foreign exchange market to prevent the pound from strengthening, but we think the forces putting upward pressure on the currency will soon... 26th July 2017 · 1 min read
Middle East & North Africa Economics Update What explains the continued slide in Saudi Arabia’s FX reserves? Saudi Arabia’s official foreign exchange reserves have continued to decline sharply, despite the marked improvement in the current account position over the past year or so. This has raised concerns... 17th July 2017 · 1 min read
Middle East & North Africa Economics Update Are we witnessing the end of the GCC? A threat by regional powers to expel Qatar from the Gulf Cooperation Council (GCC) has sparked fears that the group could be disbanded. A complete breakup of the GCC seems highly unlikely but, even if... 12th July 2017 · 1 min read