Middle East & North Africa Economic Outlook Oil sectors to fuel Gulf slowdown Growth across the Middle East and North Africa is set to slow sharply, and by more than most expect, next year. Oil output cuts will weigh on the Gulf even as fiscal policy stays loose. And while IMF... 13th December 2022 · 3 mins read
Middle East & North Africa Rapid Response PMIs (Nov.) November’s batch of PMIs provide further evidence that the non-oil sectors in the Gulf economies are rounding off the year on a strong footing. 5th December 2022 · 2 mins read
Middle East & North Africa Economics Weekly OPEC+ meeting, Qatar-Germany gas deal It seems likely that OPEC+ will opt to continue with October’s agreement to cut output quotas by 2mn bpd when the group meets on Sunday. That said, there are further signs that the group will become... 1st December 2022 · 8 mins read
Middle East & North Africa Chart Pack North Africa turns to IMF to ease external strains Economies across North Africa have endured severe balance of payments strains this year and governments in Egypt and Tunisia finally secured staff-level agreements with the IMF over the past month... 23rd November 2022 · 10 mins read
Middle East & North Africa Economics Weekly Egypt privatisation, Saudi investment, Qatar World Cup Egypt’s state ownership policy document could come into effect in before the end of this year, but it remains to be seen how willing the authorities are to relinquish their control over the economy... 17th November 2022 · 8 mins read
Middle East & North Africa Rapid Response PMIs (Oct.) October’s batch of PMIs picked up in most of the region but there remains a stark divergence in growth prospects between the Gulf and non-Gulf economies. 3rd November 2022 · 2 mins read
Middle East & North Africa Chart Pack Oil output cuts to drive sharper Gulf slowdown OPEC+ cut its oil production quotas by 2mn bpd in November and strong compliance with the agreement will hit GDP growth in the Gulf economies harder than other members of the group. The result is that... 26th October 2022 · 10 mins read
Middle East & North Africa Chart Pack Egypt: the pound, central bank, and the IMF The Egyptian pound has continued to weaken as the central bank has taken tentative steps towards a more flexible exchange rate, and we think that the currency needs to weaken further to address the... 29th September 2022 · 14 mins read
Middle East & North Africa Economics Weekly MPC meetings galore, Tunisia shortages and debt default Central banks in the Gulf are set to hike interest rates next week in line with the Fed, and we think that the Central Bank of Egypt will join the party and resume its tightening cycle next Thursday... 15th September 2022 · 6 mins read
Middle East & North Africa Data Response PMIs (Aug.) August’s batch of PMIs showed that activity in the Gulf economies pulled further ahead of their non-Gulf counterparts even as external demand has weakened on the back of softer global growth... 5th September 2022 · 2 mins read
Middle East & North Africa Chart Pack Inflationary pressures building Headline inflation has risen further across the region in recent months. This has been most pronounced in the non-Gulf economies which have been particularly exposed to spillovers from the war in... 30th August 2022 · 10 mins read
Middle East & North Africa Economics Update The economic impact of the Qatar FIFA World Cup The 2022 Football World Cup that kicks off in November will provide a significant boost to Qatar’s economy in Q4, but we doubt that the economic legacy of the tournament will live up to officials’... 15th August 2022 · 3 mins read
Middle East & North Africa Data Response PMIs (Jul.) July’s batch of PMIs were a mixed bag, but the readings reinforce our view that activity in non-oil sectors in the Gulf remains strong. Meanwhile, there were further signs that price pressures are... 3rd August 2022 · 2 mins read
Middle East & North Africa Economics Weekly Oil price falls, Saudi & UAE fiscal loosening, PMIs Oil prices have fallen over the past month as global recession fears have mounted but, while they are likely to decline further over the coming years, they will remain high by past standards. This... 7th July 2022 · 5 mins read
Middle East & North Africa Data Response S&P Global PMIs (Jun.) June’s PMIs were the proverbial mixed bag, but the bigger picture is that activity in the Gulf economies has remained robust and there are signs that firms are increasingly passing on higher costs to... 5th July 2022 · 2 mins read
Middle East & North Africa Chart Pack Region’s financial markets routed Risk-off sentiment and the sell-off in EM financial markets have hit the Middle East and North Africa hard. Having been the top regional performer earlier in the year, the MSCI Arabian Markets Index... 24th June 2022 · 13 mins read
