The UAE’s plan to introduce a corporation tax next year will help to diversify public revenues away from oil and may provide Dubai’s government with greater resources to step in if corporate debt problems resurface. Elsewhere, the EU recently lodged a WTO trade dispute against Egypt and if the matter escalates, the EU could possibly raise trade barriers and hurt Egypt’s exports to a key trading partner. And finally, yesterday’s OPEC+ meeting was a fairly straightforward affair with the group raising output by 400,000bpd as expected. Rising production feeds into our above-consensus growth forecasts for the Gulf.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services