Middle East & North Africa Economics Update Gulf economies outperforming March’s PMI data suggest that the Gulf economies’ private sectors continue to grow at a robust pace. Meanwhile, there are signs that the downturn in Egypt has deepened as FX restrictions weigh on... 3rd April 2013 · 1 min read
Middle East & North Africa Economics Update Bond yields spike in Egypt as IMF deal looks further away Yields on Egyptian dollar-denominated bonds have spiked as an IMF deal looks increasingly distant and concerns over the government’s fiscal position mount. 27th March 2013 · 1 min read
Middle East & North Africa Chart Pack Saudi economy not yet overheating A combination of rising government spending, rapid and accelerating credit growth, and a rise in headline inflation has led some commentators to warn that the Saudi economy is overheating. Looking... 14th March 2013 · 1 min read
Middle East & North Africa Economics Update Egypt's economy still in the doldrums February’s PMIs suggest that the Egyptian economy remains in the doldrums against a backdrop of continued civil unrest. By contrast, the Gulf economies appear on course to grow at a healthy pace. 5th March 2013 · 1 min read
Middle East & North Africa Economics Update UAE equities up on recovery hopes Equities in the UAE have rallied over the past few months on hopes that the economic recovery is gathering pace. Elsewhere in the region, the Egyptian pound has stabilised recently following the CBE’s... 26th February 2013 · 1 min read
Middle East & North Africa Chart Pack Gulf countries cutting back oil production The Gulf economies cut back oil production towards the end of last year against the backdrop of the weakening global economy. But while the hydrocarbon sector may be a drag on growth in 2013, it looks... 21st February 2013 · 1 min read
Middle East & North Africa Economics Focus Gulf overheating fears haven't disappeared Recently announced plans in the Gulf countries to ease fiscal policy to counter the global downturn could lead to renewed fears of overheating in the region. Our core inflation measures suggest that... 18th February 2013 · 1 min read
Middle East & North Africa Economics Update Sluggish Egyptian economy reduces prospect of IMF deal All eyes have focused on the fall of the Egyptian pound since the end of last year. But at the same time, the economy has taken a sharp turn for the worse. This suggests that job creation probably... 13th February 2013 · 1 min read
Middle East & North Africa Economics Update Middle East Markets Monitor (Jan.) The Egyptian pound has fallen sharply over the past month after the Central Bank of Egypt loosened its grip on the currency. We think the pound could fall by a further 10-15% to around 7.5/US$... 29th January 2013 · 1 min read
Middle East & North Africa Chart Pack All eyes on how far Egyptian pound will fall Although Egypt’s constitutional crisis has eased, the currency is now presenting a fresh cause for concern. Our central view remains that Egypt will secure an IMF deal which, combined with a return of... 24th January 2013 · 1 min read
Middle East & North Africa Economics Update Constitutional crisis weighs on Egyptian economy The latest PMI data suggest that Egypt’s constitutional crisis took a heavy toll on the economy at the end of last year. By contrast, activity in the Gulf economies is holding up well, buoyed by... 9th January 2013 · 1 min read
Middle East & North Africa Chart Pack Constitutional crisis keeps Egypt in the headlines Egypt’s constitutional crisis continues to cast a dark shadow over the economy. Admittedly, the vote on the new draft constitution passed off more smoothly than might have been expected. But the... 19th December 2012 · 1 min read
Middle East & North Africa Economic Outlook A region of two halves The Middle East remains a region of two halves. On the one hand, the Gulf economies are in good shape and look well placed to weather what is likely to be a challenging year ahead for the world... 17th December 2012 · 1 min read
Middle East & North Africa Economics Update Gulf overheating fears fail to materialise The massive fiscal stimulus packages unveiled by Gulf economies in the wake of the Arab Spring raised fears at the time that they would lead to economic overheating and rising inflation. Fortunately... 4th December 2012 · 1 min read
Middle East & North Africa Economics Update Middle East Markets Monitor (Nov.) Egyptian financial markets have been battered this month amid a deepening constitutional crisis. 29th November 2012 · 1 min read
Middle East & North Africa Chart Pack Egypt: two steps forward, one step back It’s been a mixed month for Egypt’s post-revolution economy. The good news is that a $4.8bn programme with the IMF has been agreed at a staff level, paving the way for formal approval by the Fund’s... 26th November 2012 · 1 min read
