Middle East & North Africa Chart Pack Middle East and North Africa Chart Pack (July 2023) This new Chart Pack has been designed to replace our Chart Book in response to client feedback to make our insights more accessible, and with more options to incorporate them into your workflow. Use... 12th July 2023 · 1 min read
Middle East & North Africa Rapid Response Egypt Consumer Prices (Jun. 2023) Egypt’s inflation rate rose from 32.7% y/y in May to a record high of 35.7% y/y in June, putting it even further above the Central Bank of Egypt’s (CBE’s) inflation target range. This adds to our view... 10th July 2023 · 3 mins read
Middle East & North Africa Rapid Response PMIs (Jun. 2023) June’s batch of PMIs for the region improved almost entirely across the board and the strength in the Gulf states marked a stark contrast to the weakness among other emerging market regions. Elsewhere... 5th July 2023 · 3 mins read
Middle East & North Africa Economics Weekly Egypt long-run prospects, Morocco autos, the Hajj Egypt’s economy is on a path to become the largest in the region by 2050, overtaking Saudi Arabia, but this will hinge on the authorities committing to orthodoxy and undertaking key structural reforms... 28th June 2023 · 6 mins read
Middle East & North Africa Chart Pack Tourism’s long road to recovery The hit to tourism in the region from the COVID-19 pandemic finally appears to be over. Receipts and arrivals are now back to, or even above, seasonal norms in almost all countries. This will be... 27th June 2023 · 10 mins read
Middle East & North Africa Economics Update Central Bank of Egypt stands pat, for now The Central Bank of Egypt (CBE) decided to leave interest rates unchanged at 18.25% at Thursday evening’s MPC meeting, but with the lingering threat of another fall in the pound and the slightly more... 23rd June 2023 · 2 mins read
Middle East & North Africa Economics Weekly Takeaways from Egypt FM briefing; our latest forecasts The key takeaways from a recent briefing with Egypt’s Finance Minister Mohammed Maait are that the government is committed to keeping fiscal policy tight and bringing the government debt-to-GDP ratio... 22nd June 2023 · 6 mins read
Middle East & North Africa Economic Outlook Oil output cuts driving Gulf slowdown Economic growth across the region will be much weaker this year than last and our forecasts are generally below the consensus. We think regional growth will come in at just 1.4%, one of the weakest... 21st June 2023 · 20 mins read
Middle East & North Africa Economics Weekly SAIBOR surge, CBE meeting, Tunisia-EU loan Saudi Arabia’s interbank rates hit their highest level in over two decades this week and, if officials want to prop up credit growth, the Saudi Central Bank may need to step in once more to provide... 15th June 2023 · 6 mins read
Middle East & North Africa Economics Weekly BCT independence, Saudi-OPEC+, Egypt reforms The independence of Tunisia’s central bank has come under threat this week, which will only diminish any remaining hopes that the country’s IMF deal will be approved. Elsewhere, comments from Saudi... 25th May 2023 · 6 mins read
Middle East & North Africa Chart Pack Gulf growth slowing The flash Q1 GDP figures for Saudi Arabia showed the economy grew at its weakest pace in two years at the start of 2023, reflecting the cut in oil production in line with the OPEC+ decision in October... 24th May 2023 · 12 mins read
Middle East & North Africa Economics Update Central Bank of Egypt playing with fire The Central Bank of Egypt (CBE) opted to leave interest rates unchanged at Thursday evening’s MPC meeting and the lack of comment on the pound will only add to investor concerns about the commitment... 19th May 2023 · 3 mins read
Middle East & North Africa Economics Weekly Egypt reform progress, Saudi public finances Egypt’s government laid out fresh efforts this week to attract greater foreign investment into the country which also coincided with the first state asset sale in nearly a year. But, unless the... 18th May 2023 · 6 mins read
Middle East & North Africa Economics Update Egypt sovereign default worries mount Fears among investors have continued to grow that Egypt’s government will default on its debt in the coming years although, for now at least, there remains a path to avoid such an outcome. Taking that... 18th May 2023 · 7 mins read
Middle East & North Africa Economics Weekly All eyes on the CBE, Saudi budget figures The unveiling of Egypt’s austere FY2023/24 Budget and the reinvigorated privatisation drive will help to ease some concern among investors of reform progress. But the critical thing to watch will be... 11th May 2023 · 7 mins read
Middle East & North Africa Economics Update The Gulf: notes from the ground We were in the Gulf last week visiting clients and this Update takes stock of the key talking points that emerged, from a sense of optimism surrounding the Gulf economies to despair and fear regarding... 11th May 2023 · 7 mins read
