Middle East & North Africa Economics Weekly

Egypt’s external gains, Saudi real estate, Saudi-UAE tensions

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...

22nd January 2026 · 6 mins read

Middle East & North Africa Economics Update

Egypt’s growing banking risks don’t raise alarm bells yet

Vulnerabilities in Egypt’s banking sector look high by EM standards, but there are signs that these risks should ease and the banking sector has large capital buffers. Perhaps the bigger issue is that...

21st January 2026 · 3 mins read

Middle East & North Africa Economics Weekly

Saudi borrowing plan, Bahrain’s austerity steps, KSA opens up

Saudi Arabia kicked off 2026 with its first debt issuance of the year. Like last year, we think borrowing will exceed the authorities' plans as lower oil prices lead to a wider budget deficit and...

8th January 2026 · 7 mins read

Middle East & North Africa Rapid Response

Middle East & North Africa PMIs (Dec. 2025)

December’s batch of PMIs suggested that non-oil sectors in the Gulf softened at the end of last year and we expect this continue over the course of 2026. And while Egypt’s PMI fell back, it continued...

6th January 2026 · 2 mins read

Middle East & North Africa Economics Weekly

Does Egypt need the IMF anyway? Oman gets an upgrade

Egypt’s IMF review has coincided with a fresh impetus to jumpstart the lagging privatisation programme. But compared to just a couple of years ago, Egypt’s improving balance of payments position and...

11th December 2025 · 7 mins read

Middle East & North Africa Rapid Response

Egypt Consumer Prices (Nov. 2025)

Egypt’s headline inflation rate eased a touch from 12.5% y/y in October to 12.3% y/y in November despite further rent rises and fuel subsidy cuts. Even so, given the Central Bank of Egypt’s own...

10th December 2025 · 2 mins read

Middle East & North Africa Chart Pack

Middle East & North Africa Chart Pack (Dec. ’25)

Our Middle East & North Africa Chart Pack has been updated with our key calls and forecasts to reflect the latest regional developments. The Middle East and North Africa is set to record its fastest...

9th December 2025 · 1 min read

Middle East & North Africa Economics Weekly

Egypt’s bumper PMI, Saudi Budget, MENA 2026 Outlook

November’s batch of PMIs suggest that growth strengthened in the region last month, particularly in Egypt where the survey hit its highest level (outside the post-pandemic recovery) since 2015...

4th December 2025 · 7 mins read

Middle East & North Africa Economic Outlook

Strengthening growth and shifting alignments

The Middle East and North Africa is set to record its fastest pace of GDP growth (outside the post-pandemic recovery) since 2011 next year. Continued oil output hikes and the switch on of Qatar’s...

4th December 2025 · 22 mins read

Middle East & North Africa Economics Weekly

Dubai real estate, Bahrain-Oman public finances, Egypt rates

The surge in prices in Dubai’s real estate sector appears to be prompting developers to take on debt to finance new projects. This echoes events prior to the crisis in 2009, but a re-run seems...

27th November 2025 · 6 mins read

Middle East & North Africa Economics Update

Egypt’s balance sheet risks high but likely to recede

Egypt’s devaluation and shift back towards macro orthodoxy 18 months ago have put the economy back on the path towards restoring macroeconomic stability. The situation is still very fragile – Egypt...

24th November 2025 · 4 mins read

Middle East & North Africa Economics Update

Egypt’s central bank still has room to cut in 2026

The Central Bank of Egypt’s (CBE’s) monetary easing cycle has been stop-start and with headline inflation rising in recent months, last night’s decision to keep interest rates on hold was not a...

21st November 2025 · 2 mins read

Middle East & North Africa Chart Pack

Middle East & North Africa Chart Pack (Nov. '25)

Our Middle East & North Africa Chart Pack has been updated with our latest forecasts and calls to reflect key developments across the region. We expect the Middle East and North Africa to record very...

20th November 2025 · 1 min read

Middle East & North Africa Economics Weekly

Shifting geopolitical allegiances, IMF to visit Egypt

The meeting between Saudi Arabia’s Crown Prince Mohammed bin Salman and President Trump next week is widely expected to see the announcement of a new security deal and the US’s partnership in the...

13th November 2025 · 7 mins read

Middle East & North Africa Rapid Response

Egypt Consumer Prices (Oct. 2025)

Egypt’s headline inflation rate rose from 11.7% y/y in September to 12.5% y/y in October, its fastest pace since July, but policymakers at the Central Bank of Egypt (CBE) have plenty of room to...

10th November 2025 · 2 mins read