Middle East & North Africa Economics Weekly

Egypt fiscal tightening, PMIs, regional tensions brewing

The announcement by Egypt’s government of a raft of price hikes will help to offset the impact on the budget position from surging debt servicing costs and lay the ground for getting an improved IMF...

4th January 2024 · 7 mins read

Middle East & North Africa Economics Update

Saudi: end of recession in sight, but sluggish growth persists

Saudi Arabia looks set to record its worst economic performance this year, outside of the pandemic and the global financial crisis, in more than two decades on the back of lower oil output. The worst...

19th December 2023 · 4 mins read

Middle East & North Africa Chart Pack

Middle East and North Africa Chart Pack (Dec. 2023)

Our Middle East and North Africa Chart Pack has been updated with the latest data and our analysis of recent developments. Economic growth in the Middle East and North Africa will strengthen a little...

18th December 2023 · 1 min read

Middle East & North Africa Economics Weekly

Egypt post-election policy shift? Saudi gigaproject delays

Inflation in Egypt slowed further in November but, with President al-Sisi all but certain to be confirmed as the winner of the recent election, policy moves over the coming weeks and months will...

14th December 2023 · 6 mins read

Middle East & North Africa Rapid Response

Saudi Arabia Consumer Prices (Nov. 23)

Saudi Arabia’s headline inflation rate rose a touch, from 1.6% y/y in October to 1.7% y/y in November, which is still low by the standards of the past two years. And we think disinflation will resume...

14th December 2023 · 2 mins read

Middle East & North Africa Economic Outlook

Another year of sluggish growth

Economic growth in the Middle East and North Africa will strengthen a little in 2024 but is likely to come in well below consensus expectations. OPEC+’s cautious approach to oil policy will keep a lid...

13th December 2023 · 22 mins read

Middle East & North Africa Economics Weekly

Egypt’s presidential election, Saudi budget approved

The result of Egypt’s presidential election that concludes next week is a formality, but once the vote is out of the way, it seems likely that economic policy will shift in a more orthodox direction...

7th December 2023 · 8 mins read

Middle East & North Africa Rapid Response

November PMIs

The batch of PMIs for November from the Middle East and North Africa showed that non-hydrocarbon private sectors in the Gulf have sustained strong momentum at the end of 2023. Elsewhere, while there...

5th December 2023 · 3 mins read

Middle East & North Africa Economics Weekly

COP28 and OPEC+, Saudi secures 2030 World Expo

While COP28 is getting underway in Dubai, attention may be drawn instead to events in Vienna today, where OPEC+ has reportedly agreed to reduce its oil production by a further 1mn bpd. This would...

30th November 2023 · 7 mins read

Middle East & North Africa Chart Pack

Middle East and North Africa Chart Pack (Nov. 2023)

Our Middle East and North Africa Chart Pack has been updated with the latest data and our analysis of recent developments After a sharp slowdown this year, GDP growth across the Middle East and North...

28th November 2023 · 1 min read

Middle East & North Africa Economics Weekly

OPEC+ drama ensues, Saudi-China currency swap

The surprise delay to the OPEC+ meeting to next week has only added to speculation that the slide in oil prices in recent months and the backdrop of the Israel-Hamas conflict could prompt the group to...

23rd November 2023 · 7 mins read

Middle East & North Africa Economics Weekly

Saudi’s Civil Code, Saudi solar & nuclear, Egypt-Israel gas

Saudi Arabia’s new Civil Code should help to remove some of the uncertainty in commercial law and marks another step on the path to raising foreign investment. Meanwhile, a new raft of solar projects...

16th November 2023 · 7 mins read

Middle East & North Africa Economics Update

Saudi Arabia: recession nearing an end

The latest Saudi GDP data paint a downbeat picture in which the recession has deepened amid oil output cuts. But the good news is that the recession looks to be coming to an end. And we think the...

15th November 2023 · 4 mins read

Middle East & North Africa Rapid Response

Saudi Arabia Consumer Prices (Oct. 2023)

Saudi Arabia’s headline inflation rate edged down from 1.7% y/y in September to 1.6% y/y in October, the weakest pace of inflation in nearly two years, and we expect that inflation will continue to...

15th November 2023 · 2 mins read

Middle East & North Africa Economics Weekly

Saudi FDI revisions, Egypt-IMF deal, October’s PMIs

Saudi Arabia’s revised foreign direct investment data paint a far rosier picture than previously, but there is still work to be done to meet the punchy targets of Vision 2030. Elsewhere, Egypt’s...

9th November 2023 · 7 mins read