Middle East & North Africa Economics Update PMIs highlight Egypt’s fragile recovery Last month’s PMI suggests that political turmoil surrounding Egypt’s constitutional referendum disrupted economic activity. Meanwhile, growth in non-oil sectors in the Gulf appears to remain strong. 4th February 2014 · 1 min read
Middle East & North Africa Economics Update IMF deals and Gulf aid spare MENA’s non-oil producers In spite of their large current account deficits, the MENA region’s non-oil economies have stayed out of the spotlight during the recent turmoil in EM financial markets thanks, it seems, to IMF... 30th January 2014 · 1 min read
Middle East & North Africa Economics Update Egyptian financial markets rally on hopes for political stability The Egyptian stock market has rallied in recent days amid growing optimism about the prospects for political stability. The recently approved constitution paves the way for elections to take place... 29th January 2014 · 1 min read
Middle East & North Africa Chart Pack MENA financial markets shrug off broader EM concerns The MENA region’s financial markets have come through the latest bout of turmoil in EM markets relatively unscathed. Most equity markets have dropped back, although their losses have been small when... 27th January 2014 · 1 min read
Middle East & North Africa Economic Outlook Non-oil economies to see growth converge with the Gulf Following a tumultuous three years since the Arab Spring uprisings, we expect a recovery to finally get underway in the MENA region’s non-oil producers over the next year or so. Growth should be... 23rd January 2014 · 1 min read
Middle East & North Africa Economics Update Saudi economy appears to have had a weaker Q4 The latest Saudi activity data add to the evidence that, having rebounded over most of 2013, the economy ended last year on a slightly weaker note. Looking ahead, faster growth in the oil sector means... 13th January 2014 · 1 min read
Middle East & North Africa Economics Update Public spending set to provide less support to Saudi economy This year’s Saudi government budget envisages the slowest rise in public spending in over a decade. This is welcome from the viewpoint of longer-term fiscal sustainability, but it does mean that... 7th January 2014 · 1 min read
Middle East & North Africa Economics Update PMIs suggest region ended 2013 on a strong note December's 'whole economy' PMIs for the Middle East and North Africa point towards faster growth in Q4 of last year than in Q3. Encouragingly, Egypt's PMI suggests that the economy is continuing to... 6th January 2014 · 1 min read
Middle East & North Africa Economics Update Egyptian stocks soar to post-Arab Spring high The Egyptian stock market has hit a post-"Arab Spring" high. This comes on the back of signs that the economy may finally be finding its feet as well as recent progress towards fresh elections. 23rd December 2013 · 1 min read
Middle East & North Africa Economics Update Saudi Arabian economy ending the year on a weaker note Having rebounded over the past couple of quarters, the Saudi Arabian economy appears to be ending the year on a slightly weaker note. Oil production has fallen back from the highs it reached in the... 17th December 2013 · 1 min read
Middle East & North Africa Chart Pack Egyptian inflation spikes while economy struggles The surge in Egyptian inflation to 12.9% y/y last month from 10.5% y/y in October took many by surprise. We think that this rise in inflation can largely be pinned on unflattering base effects and the... 12th December 2013 · 1 min read
Middle East & North Africa Economics Update Taking stock of Saudi Arabia’s migrant crackdown Saudi Arabia’s wide-scale crackdown on illegal migrant workers seems unlikely to have the desired effect of raising the employment of Saudi nationals in the private sector. In the short term, it runs... 9th December 2013 · 1 min read
Middle East & North Africa Economics Update Rebound in oil sector supports Saudi Q3 GDP growth Saudi Arabian Q3 GDP data showed that growth picked up as a rebound in the oil sector more than offset a slowdown in the rest of the economy. Looking ahead, growth may accelerate over the coming... 4th December 2013 · 1 min read
Middle East & North Africa Economics Update Egyptian economy may be finding its feet November's PMI data provide further evidence that the Egyptian economy may be finding its feet after a tumultuous summer. Meanwhile, the Saudi PMI pointed to a pick-up in growth in the non-oil sector... 4th December 2013 · 1 min read
Middle East & North Africa Economics Update Dubai equities hit five-year high as World Expo vote looms Dubai’s equity market hit a five-year high this month amid growing optimism surrounding the Emirate’s economic rebound. Confidence may be given an extra boost if, as is widely expected, Dubai wins the... 26th November 2013 · 1 min read
Middle East & North Africa Economics Update Risks from rapid Saudi credit growth look manageable The rapid expansion of credit in Saudi Arabia is beginning to look like a cause for concern. If sustained, it could be followed by a rise in non-performing loans. Nonetheless, the country seems well... 25th November 2013 · 1 min read
