Middle East & North Africa Economics Update Saudi recovery gathering pace Saudi Arabia’s economic recovery seems to have got back on track in Q2 and, as virus restrictions are eased further and oil production cuts are scaled back, a strong second half of the year lies in... 29th June 2021 · 2 mins read
Middle East & North Africa Chart Pack Higher oil prices to help narrow twin deficits The price of oil has continued to rise and will help to improve balance sheets in the Gulf. With oil prices at $75pb, all Gulf economies with the exceptions of Bahrain and Oman are likely to be... 24th June 2021 · 15 mins read
Middle East & North Africa Economics Update The latest on COVID-19 and vaccines in MENA Virus numbers have fallen in the past few months in the MENA region and a rapid vaccine rollout should allow most of the Gulf economies, as well as Morocco, to lift restrictions further over the... 21st June 2021 · 4 mins read
Long Run Focus Global migration to bounce back Global migration has ground to a halt over the past year or so, but we doubt that the pandemic will have any major lasting impact. Moreover, there is potential for migration to get a fresh impetus... 15th June 2021 · 21 mins read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (May) The rise in Saudi inflation to 5.7% y/y in May is likely to be followed by another increase in June, but the headline rate will fall sharply in July to around 1.0-1.5% y/y as the effects of last year... 15th June 2021 · 2 mins read
Middle East & North Africa Data Response Whole Economy PMIs (May) May’s batch of whole economy PMIs were a mixed bag suggesting that economic recoveries in the Gulf are struggling to gather momentum for the time being. But, with vaccination programmes strengthening... 3rd June 2021 · 3 mins read
Middle East & North Africa Economics Update Saudi: easing of restrictions paves way for H2 recovery Saudi Arabia’s economy suffered a small downturn in Q1 and the recovery so far this quarter has been slow-going. But, with the vaccine roll out picking up pace and restrictions being relaxed, coupled... 2nd June 2021 · 3 mins read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Apr.) Saudi inflation rose to 5.3% y/y in April and, while we expect the headline rate to rise further over the rest of this quarter, it is set to fall sharply to 1.5-2.0% from July as the effects of last... 20th May 2021 · 2 mins read
Middle East & North Africa Data Response Saudi Arabia GDP (Q1, Flash Estimate) Saudi Arabia’s economy recorded a slight contraction in Q1 as the impact of the Kingdom’s additional voluntary output cut more than offset a further rebound in non-oil sectors. With oil output cuts... 10th May 2021 · 3 mins read
Middle East & North Africa Economics Update Saudi: weak Q1, recovery to resume over rest of 2021 Saudi Arabia’s economy is likely to have suffered a fresh downturn in Q1 on the back of oil production cuts and tighter virus containment measures. But with the vaccine roll out picking up pace and... 4th May 2021 · 3 mins read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Mar.) Saudi inflation fell to 4.9% y/y in March and, while the headline rate is likely to rise in Q2, we expect it to fall sharply to 1.5-2.0% from July as the effects of last year’s VAT hike fade. 15th April 2021 · 2 mins read
Middle East & North Africa Economics Update Tighter virus restrictions weigh on Saudi recovery Saudi Arabia’s tightening of COVID-19 restrictions has weighed on activity in the non-oil sector and the voluntary oil output cut has hit the hydrocarbon sector too. But, with the vaccine rollout... 30th March 2021 · 2 mins read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Feb.) Saudi inflation dropped to an eight-month low of 5.2% y/y in February and while, it is likely to rise again over the next few months, we expect it to fall sharply to 1.5-2.0% from July as the effects... 15th March 2021 · 2 mins read
Middle East & North Africa Economics Update Saudi still failing to entice foreign investors The Saudi government’s efforts to improve the Kingdom’s business environment and attract foreign direct investment in recent years haven’t had the desired effect. One result is that the government is... 4th March 2021 · 3 mins read
Middle East & North Africa Economics Update Saudi recovery remains weak at start of 2021 Saudi Arabia’s economic recovery has continued to be slow going as the tightening of COVID-19 restrictions has weighed on activity. The slow start to the vaccine rollout and the Kingdom’s voluntary... 1st March 2021 · 3 mins read
Middle East & North Africa Economics Update Saudi unemployment rate to fall only gradually Saudi Arabia’s unemployment rate has risen sharply in the past year and, while we expect it to fall back, the weak recovery means that it might take many years before it gets close to its pre-pandemic... 10th February 2021 · 2 mins read
