Financial markets in the Middle East weren’t spared from the global sell-off earlier in the week. There could be a macro impact on the Gulf economies through the fall in oil prices, either via lower revenues of if it prompts OPEC+ to hold off on raising oil production later this year. This would present a downside risk to GDP growth in the region. Elsewhere, while Egypt’s financial markets were hit hardest, the fact that officials allowed the pound to weaken adds to the credibility of the policy shift underway since March.
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