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Gulf Economic Update, December 2019: Economic Diversification for a Sustainable and Resilient GCC
December 4, 2019--Economic growth in the Gulf Cooperation Council (GCC) states significantly weakened in 2019; overall real GDP growth is estimated to drop to 0.8% in 2019 from 2% in 2018 before gradually gradually recovering in 2020-21.
This edition of the Gulf Economic Update explores the links between economic diversification and environmental sustainability. The analysis highlights the need to integrate environmental sustainability and ecosystem resilience considerations into the decision-making process on the diversification paths and options in the GCC countries.
Monday Outlook: Stocks rise, oil gains, dollar boosted on positive cues from Washington
November 25, 2019--All property shares gain in Dubai
All major Gulf bourses rose on Monday, taking a cue from global equity markets as investors turned optimistic about some progress in U.S.-China trade talks, but Egypt remained pressured due to sell-off in blue chip stocks.
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Mideast Stocks: Saudi snaps five days of gains with most Gulf markets subdued
November 24, 2019--Egypt falls for a fifth day
The Saudi Arabian stock market snapped a five-day rising streak on Sunday with lenders taking a breather after riding high on a lending boom related to Saudi Aramco's public listing.
Other markets in the region were mostly lower as concerns surrounding global trade persisted.
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IMF Making the Most of Capital Flows in the Middle East and Central Asia
October 28, 2019--As economies in the Middle East and Central Asia become increasingly integrated into global capital markets, a central question has emerged: How can countries reap the benefits of capital inflows while guarding against the risks posed by sudden market shifts? Capital inflows can take several forms, such as foreign direct investment (FDI), portfolio flows, and wholesale funding to banks.
view the IMF Regional Economic Outlook: Middle East and Central Asia
MENA Economic Update: Reaching New Heights: Promoting Fair Competition in the Middle East and North Africa
October 9, 20199--The Middle East and North Africa (MENA) needs bolder and deeper economic reforms. GDP growth is projected to be 0.6% in the region in 2019, a fraction of what is needed to create enough jobs for the fast-growing working-age population. Even in those few countries that have had periods of higher growth, poverty failed to decline, suggesting a need for reforms to instill fair competition and promote inclusive growth.
It is time for MENA countries to focus on both demonopolizing their markets and harnessing the collective domestic demand of their economies to achieve export-led growth regionally and internationally.
Part I discusses the short- and medium-term growth prospects for countries in the Middle East and North Africa. The region is expected to grow at a subdued rate of 0.6% in 2019, rising to 2.6% in 2020 and 2.9% in 2021. The growth forecast for 2019 is revised down by 0.8 percentage points from the April 2019 projection.
Saudi Arabia Weighs Selling Dollar Sukuk as Soon as October
September 29, 2019--Sale would come weeks after the attacks on Aramco facilities
Kingdom has raised $10.9 billion on global markets this year
Saudi Arabia is considering selling a dollar-denominated Islamic bond as early as next month as the kingdom seeks to take advantage of lower borrowing costs, according to people with knowledge of the matter.
The government is close to hiring banks for the possible sukuk, the people said, asking not to be identified because the information is private. A spokesman for the Finance Ministry didn't immediately respond to requests to comment.
Egypt protests wipe out stock market gains
September 27, 2019--Cairo bourse is world's second-worst performer this week after anti-corruption demonstrations
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Saudi oil output bounces back after attacks
September 25, 2019--Kingdom's production is back up at 8m barrels a day, say insiders
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Saudis race to restore oil output after Aramco attacks
September 16, 2019--Saudi Arabia is racing to restore oil production after a brazen drone strike on a key Aramco facility slashed its output by half, removing about 5% of world supply.
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