Oil-rich economies outperformance not ending, for now at least

We are upbeat on the longer-term growth prospects for the resource-poor MENA economies compared with their oil-rich Gulf neighbours. But even though the region’s two largest economies, Egypt (resource-poor) and Saudi Arabia (resource-rich), appear to have grown at similar rates in Q1, we think it is too soon to call an end to the recent period of outperformance by the oil-rich economies.

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