Middle East & North Africa Data Response Egypt Consumer Prices (Aug.) Egypt’s headline inflation rate rose to 5.7% y/y in August, the fastest pace recorded since April last year, and looks set to increase further over then next couple of months. Against this backdrop... 9th September 2021 · 3 mins read
Middle East & North Africa Economics Weekly OPEC+ on track, UAE eases restrictions with Expo in sight This month’s OPEC+ meeting passed without much fanfare as the recent rebound in oil prices prompted the group to push ahead with raising oil output, which will help to lift the Gulf economies further... 2nd September 2021 · 7 mins read
Middle East & North Africa Chart Pack Gulf countries move to lift containment measures High levels of vaccine coverage have paved the way for policymakers across the Gulf to lift measures to contain COVID-19 over the past month or so. The UAE remains ahead of the pack in the vaccine... 26th August 2021 · 14 mins read
Middle East & North Africa Economics Weekly Egypt’s COVID outbreak, Tunisia’s president tightens grip Fears are growing that Egypt is on the cusp of a fresh wave of COVID-19 driven by the Delta variant, but past experience suggests that restrictions will remain light touch and there is growing hope... 26th August 2021 · 5 mins read
Middle East & North Africa Economics Weekly Gulf and oil prices, Egypt remittances, PIF’s Call of Duty The latest drop back in oil prices is unlikely to be of much concern to policymakers in the Gulf and we still think that there is a window of opportunity for fiscal policy to be loosened. Elsewhere... 19th August 2021 · 6 mins read
Middle East & North Africa Economics Weekly Russians return to Egypt, Saudi budget deficit narrows Egypt welcomed back Russian tourists for the first time in six years this week, but any boost to the ailing tourism sector is likely to be limited as other countries maintain travel restrictions to... 12th August 2021 · 6 mins read
Middle East & North Africa Data Response Egypt Consumer Prices (Jul.) Egypt’s headline inflation rate rose to an eight-month high in July and is likely to drift higher over the coming months. Against this backdrop, we think the Central Bank of Egypt (CBE) will keep... 10th August 2021 · 3 mins read
Middle East & North Africa Economics Update Egypt: rate cuts still on the cards The Central Bank of Egypt (CBE) kept its policy rate on hold on Thursday, and we continue to hold a non-consensus view that a fall in inflation later in the year will allow the CBE to resume its... 6th August 2021 · 2 mins read
Middle East & North Africa Economics Weekly UAE vaccine rollout, Egypt and Oman subsidy reversals The announcement that the price of state-subsidised bread in Egypt will be raised adds to our view that inflation will drift higher and that the central bank will hold off from cutting rates for now... 5th August 2021 · 7 mins read
Middle East & North Africa Data Response Whole Economy PMIs (Jul.) July’s whole economy PMIs painted a mixed picture with recoveries in Qatar and the UAE’s non-oil sectors picking up pace, while those in Egypt and Saudi Arabia softening. Strong vaccine rollouts and... 3rd August 2021 · 3 mins read
Middle East & North Africa Economics Weekly Unrest in Tunisia, Gulf restrictions, Egypt fuel hike Tunisia’s President Kais Saied’s power grab on Sunday and moves over the course of this week will reinforce concerns about the future of democracy in the country and the likelihood of a sovereign debt... 29th July 2021 · 6 mins read
Middle East & North Africa Chart Pack OPEC+ agreement provides a boost to Gulf recoveries The end of the impasse within OPEC+ this month will result in higher oil output and boost recoveries in the Gulf over the second half of this year and in 2022. Output quotas will rise by 400,000bpd... 28th July 2021 · 11 mins read
Middle East & North Africa Economics A two-speed recovery Strong COVID-19 vaccine rollouts in most of the Gulf and Morocco mean that remaining virus restrictions should be lifted by the end of this year, providing a boost to recoveries that, in the Gulf... 21st July 2021 · 25 mins read
Middle East & North Africa Economics Weekly OPEC+ fallout, Oman and the IMF, vaccines in Egypt The failure of OPEC+ to reach an agreement over new output quotas has raised the likelihood that the deal collapses and the Gulf states ramp up production. Elsewhere, Oman has asked for IMF assistance... 8th July 2021 · 6 mins read
Middle East & North Africa Data Response Egypt Consumer Prices (Jun.) Egypt’s headline inflation rate edged up to 4.9% y/y in June and is likely to increase further over the coming months. Against this backdrop, we think the Central Bank of Egypt (CBE) will keep... 8th July 2021 · 2 mins read
Middle East & North Africa Economics Weekly Saudi transport & labour market, Egypt CA deficit The National Transport and Logistics Strategy launched in Saudi Arabia this week is the latest effort to boost the Kingdom’s non-oil sector, but it will raise more concerns whether resources are being... 1st July 2021 · 5 mins read
