Middle East & North Africa Economics Update UAE: slowdown to be short-lived Economic growth in the UAE will slow over the rest of this year due to the impact of oil production cuts. But preparations for the World Expo will help to drive a rebound in 2020 and we expect the... 4th July 2019 · 4 mins read
Middle East & North Africa Economics Update Dubai: solid growth, but debt risks linger Economic growth in Dubai should hold up well at 3.8-4.5% over the next couple of years due to a boost from the 2020 World Expo. Loan restructurings undertaken in 2014 have masked the Emirate’s debt... 26th March 2019 · 1 min read
Middle East & North Africa Economics Focus Can the Gulf economies weather the slump in oil prices? The latest slump in oil prices is unlikely to lead to major balance sheet strains in the largest Gulf economies and, even if prices fall further to $40-50pb, dollar pegs shouldn’t come under threat... 26th November 2018 · 1 min read
Middle East & North Africa Data Response Whole Economy PMIs (Sep.) Last month’s PMI data paint a mixed picture in the Gulf but we expect growth in non-oil sectors to pick up over the coming months on the back of fiscal stimulus. Elsewhere, the survey in Egypt... 3rd October 2018 · 1 min read
Middle East & North Africa Economics Update How is Dubai’s economy performing? Economic growth in Dubai appears to have been broadly stable this year despite signs of weakness in the real estate and tourism sectors. The recent fiscal stimulus package and a step-up in... 12th September 2018 · 1 min read
Middle East & North Africa Data Response Whole Economy PMIs (Aug.) August’s PMIs for the Gulf economies suggest that fiscal stimulus has continued to support a recovery in Saudi Arabia, but weaker external demand is weighing on growth in the UAE. Meanwhile, Egypt’s... 4th September 2018 · 1 min read
Middle East & North Africa Data Response Whole Economy PMIs (Jul.) Last month’s PMI data for the Gulf provide further evidence that higher oil prices and recent fiscal measures are supporting robust growth in the non-oil sector. Elsewhere, Egypt’s survey suggests... 13th August 2018 · 1 min read
Middle East & North Africa Economic Outlook A sluggish recovery The recovery in the Middle East and North Africa should continue over the coming months but growth is likely to be weaker than most anticipate. The rebound is being led by the Gulf as the drag from... 19th April 2018 · 1 min read
Middle East & North Africa Economics Update UAE set for recovery, but consensus too optimistic The UAE’s economy should recover this year as the drag from the oil sector fades and preparations for the 2020 World Expo are stepped up. Even so, we still think that growth will be weaker than most... 5th April 2018 · 1 min read
Middle East & North Africa Chart Pack Regional growth slows further The raft of GDP data released over the past month showed that growth across the Middle East & North Africa continued to slow in Q2. Our weighted-average measure of regional GDP expanded by 1.4% y/y in... 20th October 2017 · 1 min read
Middle East & North Africa Economics Update Gulf likely to shrug off calls for deeper oil output cuts Oil policy in the Gulf has been thrust back into the spotlight after the Saudi government disclosed details of Aramco’s export allocations for November. But there is less to this than meets the eye... 12th October 2017 · 1 min read
Middle East & North Africa Economic Outlook Turning the corner Growth across the Middle East and North Africa has slowed further this year, but it should recover in 2018 and 2019. In the Gulf, the drag on GDP growth from this year’s oil production cuts will fade... 5th October 2017 · 1 min read
Middle East & North Africa Chart Pack Saudi Arabia returns to the international bond market Saudi Arabia returned to the international bond market this month in order to plug its twin budget and current account shortfalls. A total of $12.5bn of dollar debt was issued, split into three... 28th September 2017 · 1 min read
Middle East & North Africa Chart Pack Qatar crisis reaches an impasse The diplomatic crisis between Qatar and regional powers seems to be in deadlock. Saudi Arabia and its allies revised their demands in July to something that appeared to be more palatable for Doha, but... 24th August 2017 · 1 min read
Middle East & North Africa Economics Update MENA equities continue to struggle Equity markets across most of the emerging world have risen over the past month but those in the Middle East and North Africa have fallen back, continuing their underperformance this year. Stocks in... 23rd August 2017 · 1 min read
Middle East & North Africa Chart Pack Worst fears over Qatar crisis fade Diplomatic efforts have failed to bring an end to the stand-off between Qatar and the so-called Anti-Terror Quartet (Saudi Arabia, UAE, Egypt and Bahrain). Encouragingly, though, there are signs that... 21st July 2017 · 1 min read