Middle East & North Africa Economics Update

Jordan’s economy stuck in malaise

Economic growth in Jordan has been sluggish for the best part of a decade and the outlook doesn't look much brighter. While the renewed IMF programme will help to contain external strains, the Israel...

11th January 2024 · 4 mins read

Middle East & North Africa Economic Outlook

Another year of sluggish growth

Economic growth in the Middle East and North Africa will strengthen a little in 2024 but is likely to come in well below consensus expectations. OPEC+’s cautious approach to oil policy will keep a lid...

13th December 2023 · 22 mins read

Middle East & North Africa Chart Pack

Middle East and North Africa Chart Pack (Nov. 2023)

Our Middle East and North Africa Chart Pack has been updated with the latest data and our analysis of recent developments After a sharp slowdown this year, GDP growth across the Middle East and North...

28th November 2023 · 1 min read

Middle East & North Africa Economics Update

How credible are the region’s currency pegs?

Persistent balance of payments strains brought pressure on some of the region’s non-oil producing countries who employ fixed exchange rate regimes. FX reserves have been depleted to support currencies...

9th November 2023 · 3 mins read

Middle East & North Africa Chart Pack

Middle East and North Africa Chart Pack (Oct. 2023)

After a sharp slowdown this year, GDP growth across the Middle East and North Africa will improve in 2024 as OPEC+ starts to raise its output quotas and high oil prices allow the Gulf economies to...

24th October 2023 · 1 min read

Middle East & North Africa Economic Outlook

Growth prospects for 2024 improving

After a sharp slowdown this year, GDP growth across the Middle East and North Africa will improve in 2024 as OPEC+ starts to raise its output quotas and high oil prices allow the Gulf economies to...

25th September 2023 · 20 mins read

Middle East & North Africa Chart Pack

Middle East and North Africa Chart Pack (Aug. 2023)

Oil output cuts are driving a sharp slowdown in economic growth across the Gulf. The hit to volumes will more than offset the rebound in oil prices but, for now at least, fiscal policy is being kept...

21st August 2023 · 1 min 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 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 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 Chart Pack

IMF deals in choppy waters

Balance of payments strains have prompted Egypt, Morocco and Tunisia to turn to the IMF over the past six months or so, but agreements in Egypt and Tunisia are faltering. The IMF postponed its first...

26th April 2023 · 12 mins read

Middle East & North Africa Economics Weekly

Water strains, Saudi-China relations, CBE meeting

Tunisia and Morocco are in the midst of severe droughts that could weigh on activity in the key agricultural and tourism sectors, and could possibly stoke social unrest. Elsewhere, Saudi Arabia...

30th March 2023 · 6 mins read

Middle East & North Africa Economic Outlook

MENA set for a much weaker 2023

Growth across the Middle East and North Africa is set to slow sharply, and by more than most expect, in 2023. IMF deals will help to contain balance of payments strains in the non-Gulf economies but...

30th March 2023 · 25 mins read

Middle East & North Africa Economics Weekly

Tunisian debt, Morocco & CBAM, Jordan protests

The result of parliamentary elections in Tunisia last weekend will probably strengthen President Saied’s ability to pass laws, but could also dissuade the IMF from formally approving a financing...

22nd December 2022 · 5 mins read

Middle East & North Africa Chart Pack

Door still open for fiscal loosening in the Gulf

The slide in the price of oil since November has a little further to go in early 2023 and, while we think prices will recover later in the year, hydrocarbon revenues in the Gulf will be lower than...

21st December 2022 · 10 mins read