Reports this week echoed our concerns over the UAE’s banking sector, where non-performing loans were rising even before the onset of the coronavirus crisis. Elsewhere, Kuwait’s government is considering suspending the automatic transfer of some of its revenues to its Future Generations Fund reinforcing the idea that governments across the Gulf are no longer the large net savers that they were in the 2000s and the first half of the previous decade. Finally, the permanent curfew on cafés in Egypt after lockdowns end this weekend adds to worries over political repression in the country.
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