For full coverage of Middle East business, see MEED Kuwait’s current account will move into a deficit of 1 per cent of GDP in 2016 due to lower oil prices and continuing import growth, National Bank of Kuwait (NBK) said…
Category: Economics
S&P says MENA sovereign creditworthiness has deteriorated
For full coverage of Middle East business, see MEED Standard & Poor’s Ratings Services (S&P) said today that overall sovereign creditworthiness in the Middle East and North African (MENA) region has deteriorated since S&P last published six months ago. S&P…
IMF calls for action to contain subsidies in Middle East countries
The IMF called for action across the Middle East to reduce generalised subsidies and direct government assistance to the poor and vulnerable in a report published on 10 July. The report – Subsidy Reform in the Middle East & North…
IMF report highlights high unemployment in key Arab states
The IMF Survey published on 16 May contained fresh confirmation of the shockingly high unemployment in key Arab states. The survey reports unemployment in the Middle East and North Africa is among the highest in the world. It is also largely…
Gulf Investment House forecasts higher growth and lower surpluses in GCC in 2014
GCC growth will quicken but the region’s surpluses will decline in 2014, according to the GCC Economic Overview for 2014 published by the Gulf Investment House. Aggregate GCC GDP is forecast to grow by 4.1 per cent in 2014 compared to…
IMF managing director says middle class has lost ground since Arab Spring
IMF managing director Christine Lagarde speaking in Rabat on 8 May said that the middle class has lost ground in countries affected by Arab Spring uprisings in 2011 and that more needs to be done to reduce the dominance of large…
IMF forecasts GCC budget surpluses to disappear by 2019
The budget surpluses enjoyed by GCC states for more than a decade will be eliminated by 2019, a report in IMF Survey published today shows. The IMF forecasts that Bahrain and Oman will record fiscal deficits this year, which makes them increasingly…