Middle East & North Africa Data Response Saudi Arabia Consumer Prices (May) Saudi inflation edged down for a fourth consecutive month to 2.3% y/y in May on the back of falling housing and utilities prices. Recent signs that growth in the non-oil economy is starting to... 27th June 2018 · 1 min read
Middle East & North Africa Economics Weekly Egypt subsidy cuts, Saudi upgrade, OPEC meeting Hikes to fuel prices announced by the Egyptian government over the past week mean that the central bank will refrain lowering interest rates at its upcoming meeting. Meanwhile, growing tensions within... 21st June 2018 · 1 min read
Middle East & North Africa Economics Update What would a rise in OPEC output mean for Saudi? The OPEC meeting scheduled to start on Friday will probably result in a compromise to increase oil output and this could provide a boost to Saudi GDP growth of around 1%-pt. Frictions within the group... 20th June 2018 · 1 min read
Middle East & North Africa Economics Update Saudi: will an MSCI upgrade drive the Tadawul higher? MSCI’s upcoming decision on whether to include Saudi Arabia in its benchmark emerging market equity indices has been billed as a game changer for the Kingdom’s stock market, but past experience... 19th June 2018 · 1 min read
Middle East & North Africa Economics Update Saudi economy returned to growth in Q1 Our GDP Tracker suggests that the Saudi economy emerged from recession in Q1. More timely data indicate that a raft of public sector bonuses is finally providing some support to the non-oil sector. 5th June 2018 · 1 min read
Middle East & North Africa Economics Update Higher spending causes Saudi budget deficit to widen Saudi Arabia’s budget deficit widened in Q1 compared with a year earlier as a raft of public sector bonuses more than offset the boost to revenues from the introduction of a new value-added tax. That... 8th May 2018 · 1 min read
Middle East & North Africa Economics Update Saudi economy pulling out of recession The Saudi economy appears to have returned to positive growth in the first few months of this year as a fading drag from the oil sector has more than offset a modest slowdown in the rest of the... 2nd May 2018 · 1 min read
Middle East & North Africa Economics Update Saudi talk of $100pb oil doesn’t signal shift in oil policy The recent jump in oil prices to $75pb has been fuelled in part by reports that the Saudi authorities have expressed a desire for prices of $100pb. But we don’t think a fundamental shift in Saudi oil... 24th April 2018 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Mar.) Saudi inflation edged down to 2.8% y/y last month, although it was still much higher than the rates recorded last year due to the impact of tax hikes and subsidy cuts. The early evidence suggests that... 24th April 2018 · 1 min read
Middle East & North Africa Economic Outlook A sluggish recovery The recovery in the Middle East and North Africa should continue over the coming months but growth is likely to be weaker than most anticipate. The rebound is being led by the Gulf as the drag from... 19th April 2018 · 1 min read
Middle East & North Africa Economics Update Saudi economy starting a slow recovery The downturn in Saudi Arabia deepened at the end of last year, but the latest figures suggest that the economy returned to positive growth at the beginning of 2018. 4th April 2018 · 1 min read
Middle East & North Africa Economics Update Saudi Tadawul rally to run out of steam Saudi Arabia’s stock market has jumped in recent weeks on the back of growing hopes that it will be upgraded to “emerging market” status by the index compiler FTSE Russell. But past experience shows... 27th March 2018 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Feb.) Inflation in Saudi Arabia edged down to 2.9% y/y last month but it remained much higher than the rates recorded in late-2017 due to the impact of recent tax hikes and subsidy cuts. We expect inflation... 21st March 2018 · 1 min read
Middle East & North Africa Chart Pack Saudi royal tour highlights reform and geopolitical risks Saudi Arabia’s Crown Prince Mohammed bin Salman (known as MbS) is in the midst of a global tour, which has highlighted the challenges facing his Vision 2030 economic reforms as well as ongoing... 15th March 2018 · 1 min read
Middle East & North Africa Economics Update Saudi Aramco IPO delay to have little near-term impact Reports that the initial public offering of Saudi Arabia’s national oil company, Aramco, will be delayed until next year are not a major surprise given the complexity of the transaction. The delay... 12th March 2018 · 1 min read
Middle East & North Africa Economics Update Saudi economy moving towards recovery It looks like Saudi Arabia’s economy turned the corner in late 2017 and, while the early data from the start of this year have been disappointing, a recovery should still get underway. 6th March 2018 · 1 min read
