Middle East & North Africa Economics Update Assessing the impact of lower oil prices on the MENA region The recent sharp drop in oil prices is unlikely to be a major headache for the Gulf economies although, if sustained, it will mean that there will be less room for fiscal policy to provide the same... 16th September 2014 · 1 min read
Middle East & North Africa Economics Update President al-Sisi’s first 100 days better than expected In his first 100 days in office, Egypt’s President al- Sisi has made more progress in tackling the country’s economic problems than many, including ourselves, had expected. In particular, his... 15th September 2014 · 1 min read
Middle East & North Africa Economics Update Saudi slowdown continues at the start of Q3 Our GDP Tracker suggests that the Saudi economy slowed further at the start of Q3 as growth in the oil sector continued to ease, while activity in the non-oil sector remained weak by past standards. 8th September 2014 · 1 min read
Middle East & North Africa Economics Update Is Dubai now over its debt problems? The past month has brought further news that Dubai’s government-related entities, which were at the heart of the Emirate’s crisis in 2009, are tackling their debt problems. But while these latest... 4th September 2014 · 1 min read
Middle East & North Africa Economics Update Egypt’s economic recovery continues The pick-up in Egypt’s ‘whole economy’ PMI last month suggests that the economy has continued to make a gradual recovery from last summer’s “second revolution”. Meanwhile, non-oil sectors in the Gulf... 3rd September 2014 · 1 min read
Middle East & North Africa Economics Update Egypt: interest rates on hold, further tightening unlikely The Egyptian central bank’s decision to keep interest rates on hold today appears to confirm that July’s rate hike was a one-off in response to higher inflation following the government’s recent... 1st September 2014 · 1 min read
Middle East & North Africa Economics Update Morocco: slump in agriculture doesn’t dampen positive outlook A slump in agricultural output has weighed heavily on Morocco’s economy since the start of this year. However, exports are now picking up on the back of stronger external demand while the boom in the... 26th August 2014 · 1 min read
Middle East & North Africa Economics Update Saudi growth slows on weakness in oil sector Our GDP Tracker suggests that growth in the Saudi economy slowed to around 4.3% y/y in Q2 from 4.7% y/y in Q1. This was driven by weakness in the oil sector, but it looks like growth in the non-oil... 21st August 2014 · 1 min read
Middle East & North Africa Economics Update Gulf’s stock market rally loses steam Equity markets in the Gulf have been among the best performers in the world over the previous year, but they’ve flat-lined during the past month. The one exception is Saudi Arabia, where the stock... 19th August 2014 · 1 min read
Middle East & North Africa Economics Update Saudi consumer spending may be stabilising The latest data suggest that Saudi consumer spending remains weak by past standards, but it does at least look like the recent slowdown may now have bottomed out. 14th August 2014 · 1 min read
Middle East & North Africa Economics Update Egypt's banks unlikely to support the economic recovery There are growing hopes that the recent return to political stability in Egypt will trigger a revival in bank lending to the private sector. But we think this optimism may be overdone. A heavy burden... 12th August 2014 · 1 min read
Middle East & North Africa Economics Update Weaker Saudi credit growth could be here to stay The past few months have brought further evidence that credit growth is coming off the boil in parts of the Gulf. As we explain in this Watch, there are reasons to think that this could prove to be... 7th August 2014 · 1 min read
Middle East & North Africa Economics Update Fall in Egypt’s PMI doesn’t signal end of recovery The fall in Egypt’s PMI in July was disappointing in light of the recent improvement in the hard activity data. However, the bigger picture is that the economy is stronger than it was a year ago... 5th August 2014 · 1 min read
Middle East & North Africa Economics Update Dubai leads equity market rebound Equity markets across the MENA region have rebounded following a poor performance in June. The Dubai stock market has recouped a large chunk of its previous losses. And equities in Saudi Arabia have... 24th July 2014 · 1 min read
Middle East & North Africa Economics Update Further signs that Egypt’s economy is strengthening Having struggled over the past few years, the Egyptian economy has rebounded at the start of 2014 and a number of indicators suggest that growth in Q2 may have been the fastest since early 2012... 23rd July 2014 · 1 min read
Middle East & North Africa Economics Update First thoughts on the opening up of Saudi Arabia's stock market The Saudi authorities’ plan to open up the stock market to foreign investors is clearly a step in the right direction. But with equity valuations already stretched, we doubt that it will be the... 22nd July 2014 · 1 min read
