Data released this week showed that Egypt's current account deficit has continued to improve nearly two years on from the policy shift. The growing likelihood of a rebound in Suez Canal traffic will further bolster the external position. Elsewhere, figures from Saudi Arabia showed that real estate prices declined at their fastest pace in six years in Q4 last year, a sign that the government’s housing-related measures are having the desired effect. That said, officials will need to keep an eye on associated risks in the banking sector. Finally, tensions between the UAE and Saudi continue to grow. The economic impact is likely to be limited, but there could be implications for cohesion within OPEC+.
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:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services