Figures out of Egypt this week showed the budget deficit has narrowed this year, highlighting the commitment to keep debt on a downwards trajectory but at the cost of a weaker recovery. In contrast, Bahrain’s government looks set to continue providing fiscal support during its recovery, although this may raise further concerns over the country’s fragile balance sheet. Elsewhere, Emaar – the largest property developer in Dubai – announced it would halt construction on new projects, which might help to restore balance to the Emirate’s property market.
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