Middle East & North Africa Economics Update Egyptian economy suffers in aftermath of “second revolution” August’s PMI data provide evidence that the Egyptian economy is still suffering following the country’s “second revolution”. Meanwhile, the Saudi non-oil economy has picked-up. 3rd September 2013 · 1 min read
Middle East & North Africa Economics Update Egypt’s stimulus plan comes with risks attached Egypt’s newly-announced stimulus package stands a chance of boosting the beleaguered economy in the near-term. But with the package being funded by Gulf aid, over the longer-term, it could actually... 29th August 2013 · 1 min read
Middle East & North Africa Economics Update Latest unrest has muted impact on Egyptian markets Egypt’s financial markets appear to have taken the latest outbreaks of violence in their stride. The equity market is actually up since the start of the month, while bond yields remain below the level... 28th August 2013 · 1 min read
Middle East & North Africa Economics Update How badly will political unrest hit Egyptian tourism? The outbreak of violence in Egypt has made the economic outlook highly uncertain. But it’s pretty clear that the tourism sector will be hard hit, as it has been during previous bouts of unrest. We... 22nd August 2013 · 1 min read
Middle East & North Africa Economics Update Saudi inflation likely to remain subdued Saudi inflation has eased over the course of this year, in spite of fairly robust domestic demand. And looking ahead we think price pressures are unlikely to become a major cause for concern. 15th August 2013 · 1 min read
Middle East & North Africa Economics Update Egypt’s economy struggling even before the “second revolution” The latest Egyptian activity data suggest that the economy was suffering even before the armed forces ousted President Morsi at the start of last month. Needless to say, growth has slowed even further... 13th August 2013 · 1 min read
Middle East & North Africa Economics Update Saudi oil sector’s drag on growth starting to ease Saudi Arabia’s activity data for June provide further evidence that the slowdown in growth over the past year or so probably bottomed out in the second quarter. The non-oil sector continues to grow at... 8th August 2013 · 1 min read
Middle East & North Africa Economics Update Egypt’s “second revolution” takes a heavy toll on the economy July’s PMIs suggest that the Egyptian economy has weakened further against the backdrop of the “secondrevolution”. Meanwhile, non-oil sectors in the Gulf continue to grow at a robust pace. 5th August 2013 · 1 min read
Middle East & North Africa Economics Update Gulf aid and struggling economy prompts Egypt to cut rates The surprise decision by the Central Bank of Egypt to cut interest rates today was probably triggered by two factors. The first is the influx of aid from the Gulf, which has eased strains in the... 1st August 2013 · 1 min read
Middle East & North Africa Economics Update Early market optimism in Egypt already starting to fade Egypt’s financial markets initially reacted positively to the ouster of President Morsi at the start of this month. But as the dust has settled and the severity of the political and economic situation... 31st July 2013 · 1 min read
Middle East & North Africa Economics Update Gulf aid not a long-term solution to Egypt’s problems The aid that Gulf states have granted to Egypt since the ousting of President Morsi should be sufficient to cover the country’s external financing requirement for almost a year. Accordingly, the... 16th July 2013 · 1 min read
Middle East & North Africa Economics Update Saudi economic growth at its weakest since 2009 The Saudi economy slowed sharply in Q1, recording its weakest rate of growth since 2009. The oil sector was the main drag on growth, while the public sector was the only area where the pace of... 15th July 2013 · 1 min read
Middle East & North Africa Economics Update How sustainable is the Gulf’s fiscal splurge? We’ve argued for some time that the Gulf economies should outperform the rest of the MENA region over the next couple of years, in large part thanks to large increases in government spending. But... 11th July 2013 · 1 min read
Middle East & North Africa Economics Update The economic implications of Egypt's second revolution It goes without saying that there’s a vast amount of uncertainty about how events will develop in Egypt. But the economy looks more fragile now than at any time since the first Arab Spring revolution... 4th July 2013 · 1 min read
Middle East & North Africa Economics Update Egypt: Weak growth even before the crisis June’s PMIs fell across the whole of the MENA region. But they do not take into account the political unrest that has flared up once again in Egypt and could weigh heavily on the economy over the... 2nd July 2013 · 1 min read
Middle East & North Africa Economics Update Egypt's growth on shaky foundations The most surprising feature of the raft of Q1 GDP data released in the region over the past few days was that Egypt’s economy has continued to grow, despite the country’s political turmoil. However... 1st July 2013 · 1 min read
