Skip to main content

MENA Weekly: Israel-Iran fears, Red Sea investment, Saudi Q1 GDP

Worries of an imminent Israeli strike on Iran and/or its proxies drove a jump in oil prices on Wednesday, but the fallout for the oil market and, in turn, the Gulf economies should be limited. Elsewhere, Egypt’s government plans to allocate a part of the Red Sea coastline for investments could result in higher foreign investment, akin to the Ras el-Hekma deal a year ago. Finally, Saudi Arabia's GDP growth was revised up in Q1 as the contraction in oil output was smaller and non-oil activity was stronger than previously estimated. But the non-oil sector is likely to slow in the coming quarters.

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


Get access