Middle East & North Africa Economics Update IMF deals and Gulf aid spare MENA’s non-oil producers In spite of their large current account deficits, the MENA region’s non-oil economies have stayed out of the spotlight during the recent turmoil in EM financial markets thanks, it seems, to IMF... 30th January 2014 · 1 min read
Middle East & North Africa Economics Update Egyptian financial markets rally on hopes for political stability The Egyptian stock market has rallied in recent days amid growing optimism about the prospects for political stability. The recently approved constitution paves the way for elections to take place... 29th January 2014 · 1 min read
Middle East & North Africa Chart Pack MENA financial markets shrug off broader EM concerns The MENA region’s financial markets have come through the latest bout of turmoil in EM markets relatively unscathed. Most equity markets have dropped back, although their losses have been small when... 27th January 2014 · 1 min read
Middle East & North Africa Economic Outlook Non-oil economies to see growth converge with the Gulf Following a tumultuous three years since the Arab Spring uprisings, we expect a recovery to finally get underway in the MENA region’s non-oil producers over the next year or so. Growth should be... 23rd January 2014 · 1 min read
Middle East & North Africa Economics Update PMIs suggest region ended 2013 on a strong note December's 'whole economy' PMIs for the Middle East and North Africa point towards faster growth in Q4 of last year than in Q3. Encouragingly, Egypt's PMI suggests that the economy is continuing to... 6th January 2014 · 1 min read
Middle East & North Africa Economics Update Egyptian stocks soar to post-Arab Spring high The Egyptian stock market has hit a post-"Arab Spring" high. This comes on the back of signs that the economy may finally be finding its feet as well as recent progress towards fresh elections. 23rd December 2013 · 1 min read
Middle East & North Africa Chart Pack Egyptian inflation spikes while economy struggles The surge in Egyptian inflation to 12.9% y/y last month from 10.5% y/y in October took many by surprise. We think that this rise in inflation can largely be pinned on unflattering base effects and the... 12th December 2013 · 1 min read
Middle East & North Africa Economics Update Taking stock of Saudi Arabia’s migrant crackdown Saudi Arabia’s wide-scale crackdown on illegal migrant workers seems unlikely to have the desired effect of raising the employment of Saudi nationals in the private sector. In the short term, it runs... 9th December 2013 · 1 min read
Middle East & North Africa Economics Update Dubai equities hit five-year high as World Expo vote looms Dubai’s equity market hit a five-year high this month amid growing optimism surrounding the Emirate’s economic rebound. Confidence may be given an extra boost if, as is widely expected, Dubai wins the... 26th November 2013 · 1 min read
Middle East & North Africa Chart Pack Saudi oil boom lifts growth in Q3 The Saudi economy appears to have rebounded in the third quarter of the year. Our GDP tracker points towards growth of around 5% y/y, up from 2.7% y/y in Q2. Most of this improvement has come from the... 20th November 2013 · 1 min read
Middle East & North Africa Economics Update Public jobs no solution to high MENA unemployment High unemployment rates have grabbed the headlines in the MENA region, not only as a catalyst for the Arab Spring revolutions but also for prompting a backlash against expatriate workers in the region... 18th November 2013 · 1 min read
Middle East & North Africa Economics Update Bond markets buoyed by delay to Fed “taper” Bond markets across the MENA region have rallied over the past month as it looks increasingly likely that the US Fed will delay tapering its asset purchases under QE3 until early next year. Elsewhere... 29th October 2013 · 1 min read
Middle East & North Africa Economics Update Inflation set to stay subdued across most of the region Easing food inflation and a modest dip in core price pressures have caused headline inflation to fall across much of the MENA region over the past few months. We expect inflation to remain benign in... 24th October 2013 · 1 min read
Middle East & North Africa Economic Outlook Non-oil economies set for recovery The MENA region’s non-oil economies remain fragile, but a recovery of sorts is likely over the next year. In Egypt, growth will be supported by the government’s Gulf-funded stimulus package, while... 17th October 2013 · 1 min read
Middle East & North Africa Economics Update Egypt’s tourism sector bears the brunt of the unrest Tourist arrivals to Egypt have fallen back following the country’s “second revolution” and we estimate that tourist revenues in July and August were $600mn lower than in the same months of last year... 10th October 2013 · 1 min read
Middle East & North Africa Economics Update Fall in Tunisia’s government not a major economic setback News that Tunisia’s government has agreed to step down at some point over the next few weeks provides a further reason to think that growth there will remain sluggish and that fiscal reforms may slip... 30th September 2013 · 1 min read
