Middle East & North Africa Data Response Saudi Consumer Prices (May) Easing Saudi deflation in May suggests that the recent pick-up in growth in the non-oil sector is feeding through into price pressures. In addition, a fresh round of subsidy cuts is looking... 19th June 2019 · 1 min read
Middle East & North Africa Economics Update Growth in Saudi Arabia to slip further Our GDP Tracker suggests that Saudi Arabia’s economy slowed in the first quarter as a pick-up in the non-oil economy was offset by weakness in the oil sector. We think that the slowdown has further to... 5th June 2019 · 1 min read
Middle East & North Africa Data Response Saudi Consumer Prices (Apr.) The further easing of deflation in Saudi Arabia in April suggests that stronger activity in the non-oil sector at the start of this year is (finally) feeding through to a pick-up in price pressures. 21st May 2019 · 1 min read
Middle East & North Africa Economics Update Saudi credit growth to remain subdued Credit growth in Saudi Arabia has started to pick up and, with monetary conditions set to be loosened in line with the US, it is likely to strengthen further over the next couple of years. That said... 20th May 2019 · 1 min read
Global Economics Update Saudi Arabia This Briefing is a reference guide with our latest views and forecasts for Saudi Arabia’s economy, including the prospects for key macroeconomic and financial market variables such as gross domestic... 13th May 2019 · 1 min read
Middle East & North Africa Economics Weekly Bahrain’s fiscal woes, Tadawul falls, PMIs positive Developments in Bahrain over the past week suggest that the government is backtracking on its commitment to fiscal austerity. We doubt that the other Gulf countries will withdraw their support but, if... 9th May 2019 · 1 min read
Middle East & North Africa Economics Update Saudi budget position likely to deteriorate Saudi Arabia recorded a budget surplus in Q1 but, if oil prices drop back as we expect, the fiscal position is likely to deteriorate. This won’t cause significant balance sheet strains, although... 2nd May 2019 · 1 min read
Middle East & North Africa Economics Weekly Saudi equity rally to fade, mixed news for Morocco Saudi equities have continued to rally this week, but we think that they will erase all of their recent gains by the end of this year. Meanwhile, projections from Morocco’s agriculture ministry... 2nd May 2019 · 1 min read
Middle East & North Africa Economics Update Saudi slowdown has further to run After reaching a three-year high in Q4 2018, GDP growth in Saudi Arabia has slowed at the start of this year as the drag from oil output cuts has more than offset a pick-up in activity in the non-oil... 30th April 2019 · 1 min read
Middle East & North Africa Economics Weekly Saudi oil output, Egypt’s constitutional referendum US President Trump’s decision not to extend waivers on Iran’s oil exports means that Saudi Arabia is likely to raise oil production over the coming months. While this poses an upside risk to our GDP... 25th April 2019 · 1 min read
Middle East & North Africa Data Response Saudi Consumer Prices (Mar.) Inflation in Saudi Arabia remained in negative territory last month and, barring a fresh round of administered price hikes, we expect this to remain the case for much of this year. 23rd April 2019 · 1 min read
Middle East & North Africa Economics Weekly Aramco’s bond sale, Saudi risk premium Aramco’s bumper bond sale this week was seen by many as a vote of confidence in the Saudi economy and the government’s reform plans. But other indicators don’t back this up. 11th April 2019 · 1 min read
Middle East & North Africa Economics Update Saudi slowdown to be steeper than most expect Saudi Arabia’s economy expanded at its fastest pace in three years in Q4 of last year, but our GDP Tracker points to a renewed slowdown at the start of 2019. 1st April 2019 · 1 min read
Middle East & North Africa Data Response Saudi Consumer Prices (Feb.) Consumer prices in Saudi Arabia fell at an even faster pace in February than in January and we expect the Kingdom to remain mired in deflation for much of this year. 19th March 2019 · 1 min read
Middle East & North Africa Economics Update Saudi economy’s strong end to 2018 already fading Saudi Arabia’s economy appears to have expanded by around 4.5% y/y in Q4 of last year, but it is now almost certainly slowing. Our forecast for GDP growth of 1.3% this year lies towards the bottom of... 6th March 2019 · 1 min read
Middle East & North Africa Economics Weekly Saudi to extend output cuts, more protests in Algeria Fresh hints from Saudi Arabia that it will extend its oil production cuts into the second half of this year support our view that economic growth in the Kingdom will be weaker than most anticipate... 28th February 2019 · 1 min read
