Middle East & North Africa Data Response Whole Economy PMIs (Sep.) September’s batch of whole economy PMIs showed that recoveries in non-hydrocarbon private sectors in Saudi Arabia and Qatar gathered pace as domestic activity strengthened on the back of easing virus... 5th October 2021 · 3 mins read
Middle East & North Africa Chart Pack Rise in inflation to prove short-lived Inflation in many economies in the region has risen to multi-year highs in recent months. In general, this has been driven higher by a combination of unfavourable base effects from the pandemic, as... 28th September 2021 · 14 mins read
Middle East & North Africa Economics Update Central Bank of Egypt keeps rates on hold for now The Central Bank of Egypt (CBE) kept interest rates unchanged at Thursday’s MPC meeting amid rising price pressures. However, we still think that inflation will slow in the final months of this year... 17th September 2021 · 2 mins read
Emerging Markets Economics Focus The pandemic and EM scarring risks The pandemic is likely to inflict lasting damage on potential growth in economies in much of Latin America, Africa and South and Southeast Asia, adding to the structural headwinds that they already... 9th September 2021 · 17 mins read
Middle East & North Africa Economics Weekly Algosaibi deal, Egypt and COVID, UAE Projects of the 50 One of Saudi Arabia’s largest conglomerates, the Algosaibi group, is on the cusp of securing a debt restructuring agreement with its creditors, a sign that recent reforms are helping to speed up... 9th September 2021 · 7 mins read
Middle East & North Africa Data Response Egypt Consumer Prices (Aug.) Egypt’s headline inflation rate rose to 5.7% y/y in August, the fastest pace recorded since April last year, and looks set to increase further over then next couple of months. Against this backdrop... 9th September 2021 · 3 mins read
Middle East & North Africa Economics Weekly OPEC+ on track, UAE eases restrictions with Expo in sight This month’s OPEC+ meeting passed without much fanfare as the recent rebound in oil prices prompted the group to push ahead with raising oil output, which will help to lift the Gulf economies further... 2nd September 2021 · 7 mins read
Middle East & North Africa Chart Pack Gulf countries move to lift containment measures High levels of vaccine coverage have paved the way for policymakers across the Gulf to lift measures to contain COVID-19 over the past month or so. The UAE remains ahead of the pack in the vaccine... 26th August 2021 · 14 mins read
Middle East & North Africa Economics Weekly Egypt’s COVID outbreak, Tunisia’s president tightens grip Fears are growing that Egypt is on the cusp of a fresh wave of COVID-19 driven by the Delta variant, but past experience suggests that restrictions will remain light touch and there is growing hope... 26th August 2021 · 5 mins read
Middle East & North Africa Economics Weekly Gulf and oil prices, Egypt remittances, PIF’s Call of Duty The latest drop back in oil prices is unlikely to be of much concern to policymakers in the Gulf and we still think that there is a window of opportunity for fiscal policy to be loosened. Elsewhere... 19th August 2021 · 6 mins read
Middle East & North Africa Economics Weekly Russians return to Egypt, Saudi budget deficit narrows Egypt welcomed back Russian tourists for the first time in six years this week, but any boost to the ailing tourism sector is likely to be limited as other countries maintain travel restrictions to... 12th August 2021 · 6 mins read
Middle East & North Africa Data Response Egypt Consumer Prices (Jul.) Egypt’s headline inflation rate rose to an eight-month high in July and is likely to drift higher over the coming months. Against this backdrop, we think the Central Bank of Egypt (CBE) will keep... 10th August 2021 · 3 mins read
Middle East & North Africa Economics Update Egypt: rate cuts still on the cards The Central Bank of Egypt (CBE) kept its policy rate on hold on Thursday, and we continue to hold a non-consensus view that a fall in inflation later in the year will allow the CBE to resume its... 6th August 2021 · 2 mins read
Middle East & North Africa Economics Weekly UAE vaccine rollout, Egypt and Oman subsidy reversals The announcement that the price of state-subsidised bread in Egypt will be raised adds to our view that inflation will drift higher and that the central bank will hold off from cutting rates for now... 5th August 2021 · 7 mins read
Middle East & North Africa Data Response Whole Economy PMIs (Jul.) July’s whole economy PMIs painted a mixed picture with recoveries in Qatar and the UAE’s non-oil sectors picking up pace, while those in Egypt and Saudi Arabia softening. Strong vaccine rollouts and... 3rd August 2021 · 3 mins read
Middle East & North Africa Economics Weekly Unrest in Tunisia, Gulf restrictions, Egypt fuel hike Tunisia’s President Kais Saied’s power grab on Sunday and moves over the course of this week will reinforce concerns about the future of democracy in the country and the likelihood of a sovereign debt... 29th July 2021 · 6 mins read
