Middle East & North Africa Chart Pack

Middle East & North Africa Chart Pack (Jan. '25)

Our Middle East & North Africa Chart Pack has b een updated with the latest data and our analysis of recent developments. GDP growth in the Middle East and North Africa will accelerate in 2025 on the...

15th January 2025 · 0 mins read

Middle East & North Africa Rapid Response

Saudi Arabia Consumer & Wholesale Prices (Dec. 2024)

Saudi Arabia’s headline inflation rate eased a touch from 2.0% y/y in November to 1.9% y/y in December and it is likely to hover around these rates over the first half of 2025 before slowing toward 1%...

15th January 2025 · 2 mins read

Emerging Markets Economics Update

FX bond issuance ramps up, but the outlook is cloudy

EM sovereign FX debt issuance surged over the past year and at the start of 2025, albeit with many sovereigns returning to global markets and issuing at high interest rates. Borrowing does not look...

14th January 2025 · 4 mins read

Commodities Update

Assessing the risks to energy prices

While upside risks to energy prices have garnered plenty of attention in recent months, there are several downside risks that are worth noting. Although we would characterise the downside risks –...

9th January 2025 · 4 mins read

Middle East & North Africa Economics Weekly

Saudi debt issuance, Egypt-IMF, Lebanon’s new president

Saudi Arabia kicked off the year with bumper international debt issuance and, with foreign investment remaining weak and budget deficits likely to persist, the government’s reliance on capital markets...

9th January 2025 · 7 mins read

Middle East & North Africa Rapid Response

PMIs (Dec. 2024)

December’s batch of PMIs declined for the most part across the Gulf but we doubt that the strength of non-oil activity will be sustained in 2025, particularly in Saudi Arabia and Kuwait. Elsewhere...

6th January 2025 · 2 mins read

Middle East & North Africa Economics Weekly

Saudi inflation, Moroccan rates

Saudi inflation rose further in November but there were tentative signs that some of the recent drivers of higher price pressures are fading and we expect the headline rate to drop back towards 1% by...

19th December 2024 · 7 mins read

Middle East & North Africa Economics Update

Saudi economy to underwhelm in 2025

Saudi Arabia’s constrained approach to oil policy is here to stay until April and, coupled with the turn to fiscal consolidation, means growth will pick up by less than others expect in 2025.

19th December 2024 · 2 mins read

Middle East & North Africa Economics Weekly

OPEC+ and Gulf GDP, Syria after Assad, MENA World Cups

OPEC+’s decision to once again push back the unwinding of oil output cuts will keep a lid on economic growth in the Gulf and we expect GDP to expand by less than others anticipate next year. Elsewhere...

12th December 2024 · 8 mins read

Middle East & North Africa Economic Outlook

Growth to strengthen as Gulf opens up the oil taps

GDP growth in the Middle East and North Africa will accelerate in 2025 on the back of higher oil production in the Gulf. The UAE will be the Gulf’s top performing economy and, elsewhere, we expect...

11th December 2024 · 22 mins read

Commodities Weekly

OPEC+ delay won’t prevent oil price falls

The decision by OPEC+ to delay unwinding some of its oil production cuts until April 2025 appears to have provided food for thought to both oil bulls and bears. However, although the announced plans...

6th December 2024 · 5 mins read

Commodities Update

OPEC+ remains in can-kicking mode

While today’s decision by OPEC+ to delay the unwinding of some of its oil production cuts until April 2025 buys the group some time, the backdrop of weak global oil demand means that it could easily...

5th December 2024 · 3 mins read

Middle East & North Africa Economics Weekly

Syria latest, Saudi-US security pact, Tunisia central bank

The advance by Syrian rebels, which has taken President Assad’s forces by surprise, is unlikely to have significant macro implications, but it has shone the light on how geopolitical alliances in the...

5th December 2024 · 8 mins read

Commodities Update

The geopolitics that will shape energy markets in 2025

While energy market fundamentals point to oil prices falling a bit further and prices of European natural gas and Asian LNG remaining higher than before the Russia-Ukraine war, the uncertain...

3rd December 2024 · 5 mins read

Middle East & North Africa Rapid Response

PMIs (Nov. 2024)

November’s batch of PMIs showed an increase all of the Gulf economies, although there remained some underlying signs that non-oil activity is softening. Elsewhere, Egypt’s PMI improved a touch as...

3rd December 2024 · 2 mins read