The roll-out of COVID-19 vaccines and easing of containment measures will boost all the MENA economies next year, although this will be quicker in the Gulf countries which have greater access to vaccines and will be also be supported by a rebound in the oil market. Concerns about Dubai’s corporate debts are likely to persist. And while it looks as though geopolitical tensions may take a backseat, 10 years on from the “Arab Spring”, social unrest still poses a key downside risk to the outlook.
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