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Frontier recovery still on track

The recovery in frontier economies continued over the first half of this year. GDP growth averaged around 2.0% y/y in Q1, twice the rates seen in mid-2016. It would have been stronger still were it not for weakness in the largest frontier market, Saudi Arabia. Cuts to oil production there as part of an OPEC agreement caused the economy to contract by 0.5% y/y. More timely figures suggest that most economies fared well in the second quarter.

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