Middle East & North Africa Economics Update MENA PMIs: a soft end to Q1 March’s batch of PMIs across much of the Middle East and North Africa came in softer as worries about a global trade war weighed on activity. Those concerns will have only mounted in the wake of... 7th April 2025 · 3 mins read
Middle East & North Africa Economics Update Oil’s slide and what it means for the Gulf President Trump’s tariffs, retaliation by China, and OPEC+’s decision to accelerate the pace of oil output increases have caused the price of Brent crude to tumble to its lowest level in four years... 4th April 2025 · 4 mins read
Middle East & North Africa Economics Weekly MENA Weekly: MENA and the Trump trade war, Saudi balance of payments President Trump’s tariff announcements on Wednesday evening mean that much of the Middle East and North Africa is subject to a 10% tariff, although Jordan is more vulnerable given its greater... 3rd April 2025 · 8 mins read
Middle East & North Africa Economics Weekly MENA Weekly: Egypt’s budget laid out, Saudi spending cuts Egypt’s FY2025/26 Budget outlined that the overall budget deficit will remain large, but that’s due to high interest payments. The government is committed to continuing to run a large primary surplus... 27th March 2025 · 6 mins read
Middle East & North Africa Economic Outlook MENA Outlook: Oil-fuelled growth to mask non-oil slowdown GDP growth in the Middle East and North Africa will pick up over the next couple of years supported by rising oil and LNG output from the Gulf. However, lower oil prices will result in tighter fiscal... 27th March 2025 · 20 mins read
Middle East & North Africa Economics Weekly Egypt’s policy shift one year on Egyptian authorities are on the path towards restoring macroeconomic stability and received a strong endorsement from the IMF this week. The next – and potentially more complex – phase will be... 13th March 2025 · 8 mins read
Middle East & North Africa Chart Pack Middle East & North Africa Chart Pack (Mar. '25) Our Middle East & North Africa Chart Pack has been updated with the latest data and our analysis of recent developments. Rises in oil output from OPEC+, starting in April will gradually provide a... 13th March 2025 · 0 mins read
Middle East & North Africa Economics Weekly Could Saudi renege on OPEC+ plan as fiscal woes emerge? Saudi Arabia agreed with the rest of OPEC+ to proceed with increases in oil output from April, but the slide in oil prices and the news that Aramco will cut its dividend payment will test the Kingdom... 6th March 2025 · 7 mins read
Middle East & North Africa Economics Update MENA PMI’s point to a softer start to 2025 February’s batch of PMIs across the Gulf were generally softer and we think that non-hydrocarbon sectors in the Gulf will record weaker growth this year. In contrast, Egypt’s economy appears to be... 5th March 2025 · 2 mins read
Middle East & North Africa Economics Update Aramco’s dividend cut puts a dent in Saudi’s budget The news that Aramco, Saudi Arabia’s state-owned oil company, will cut its dividend payout this year will put a dent in the Kingdom’s public finances and, together with a likely decline in the state’s... 4th March 2025 · 4 mins read
Commodities Update OPEC+ compromises amidst a geopolitical maelstrom OPEC+’s plan to increase oil output by 2.2m barrels per day over the next 18 months or so risks saturating the global market and highlights the downside risks to our already below-consensus oil price... 4th March 2025 · 3 mins read
Middle East & North Africa Economics Weekly MENA Weekly: Egypt’s gas hopes, Saudi budget, Arab League meetings Egypt’s gas sector appears to be on the cusp of a significant resumption of activities, and this should go some way to easing the domestic shortages that hit activity as well as improving the current... 20th February 2025 · 6 mins read
Middle East & North Africa Economics Update Saudi Arabia’s real estate boom not a concern (yet) Saudi Arabia’s real estate sector is in the midst of a boom and affordability among Saudi citizens for housing is becoming increasingly stretched, which may tempt the authorities to loosen lending... 19th February 2025 · 4 mins read
Middle East & North Africa Chart Pack Middle East & North Africa Chart Pack (Feb. '25) Our Middle East & North Africa Chart Pack has been updated with the latest data and our analysis of recent developments. GDP growth in the Middle East and North Africa will accelerate in 2025 on the... 12th February 2025 · 1 min read
Middle East & North Africa Economics Update Saudi’s economy set for a modest acceleration Saudi Arabia’s economic growth will accelerate this year as the Kingdom starts to unwind oil production cuts from April. But while the Kingdom’s non-oil sector started the year on a strong footing... 11th February 2025 · 3 mins read
Middle East & North Africa Economics Weekly MENA Weekly: Trump muddles the US’s relations with MENA President Trump’s comments on Gaza risk straining relations with the Gulf and will work against his aim of expanding the Abraham Accords to include a normalisation of Saudi-Israel relations. Meanwhile... 6th February 2025 · 7 mins read
