Middle East & North Africa Economics Focus Saudi Vision 2030 likely to fall short of lofty goals The recent elevation of Saudi Arabia’s Mohammed bin Salman to crown prince has raised hopes of a renewed impetus to push through his Vision 2030 reform programme. But, while the scope of the programme... 27th June 2017 · 20 mins read
Middle East & North Africa Economics Update Saudi markets rally as MSCI points to EM upgrade Saudi Arabia’s equity market has rallied on the back of MSCI’s decision to put the country on its “watch list” for an upgrade to Emerging Market status, but there are a few reasons to think that the... 21st June 2017 · 1 min read
Middle East & North Africa Economics Update Saudi reshuffle clarifies succession, but hurdles to reform remain The decision by Saudi Arabia’s King Salman to promote his son, Mohammed bin Salman (MbS), to crown prince provides some clarity on the line of succession. That being said, many of the barriers to the... 21st June 2017 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (May) Saudi inflation stood in negative territory for a fifth consecutive month in May, but with subsidy cuts in the pipeline outright deflation is unlikely to last much longer. 14th June 2017 · 1 min read
Middle East & North Africa Economics Update Oil output cuts cause Saudi economy to stagnate Our GDP Tracker suggests that Saudi Arabia’s economy stagnated in March as oil production cuts continued to trim headline growth. Encouragingly, though, the non-oil economy strengthened further and... 30th May 2017 · 1 min read
Middle East & North Africa Economics Update OPEC deal should allow Gulf to ease austerity further OPEC’s decision to rollover its oil output cuts didn’t come as a surprise, but the fact that calls for deeper cuts never even made it on to the table suggests that the Gulf economies are resistant to... 25th May 2017 · 1 min read
Middle East & North Africa Economics Update Saudi public finance figures suggest big spending cuts are over New quarterly public finance figures released by the Saudi government today show a sharp narrowing in the budget deficit at the start of this year, supported by higher oil revenues. The data also... 11th May 2017 · 1 min read
Middle East & North Africa Economics Update Gulf economies better placed to deal with low oil prices The recent fall in oil prices has reignited fears over the outlook for the Gulf, but as we explain in this Watch these countries are in a better position now to weather a period of low oil prices than... 8th May 2017 · 1 min read
Middle East & North Africa Economics Update Devaluation fears fade in the Gulf, Tunisia’s dinar falls Fears that low oil prices would force the Gulf countries to devalue their currencies have continued to fade over the past month. However, one country in the region where the authorities have loosened... 26th April 2017 · 1 min read
Middle East & North Africa Economics Update Saudi economy slows further, but non-oil sector faring better Our GDP Tracker suggests that Saudi Arabia’s economy continued to slow in February on the back of oil production cuts. On a more positive note, the recovery in the non-oil sector has strengthened and... 26th April 2017 · 1 min read
Middle East & North Africa Economics Update Saudi benefit cut U-turn not a major cause for alarm The Saudi government’s decision to reinstate benefits for civil servants appears to be a U-turn on one of the more unpopular austerity measures, rather than the start of a wholesale reversal of recent... 24th April 2017 · 1 min read
Middle East & North Africa Chart Pack Saudi Arabia hints at OPEC deal extension Recent comments from Saudi Arabia’s Oil Minister, Khalid al-Falih, suggest that OPEC is edging towards an agreement to extend its oil production cuts when it meets in Vienna next month. Having ruled... 21st April 2017 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Mar.) Saudi inflation stood in negative territory for a third consecutive month in March, but we continue to think a long and damaging bout of deflation should be avoided. 18th April 2017 · 1 min read
Middle East & North Africa Economics Update Gulf: improving budget positions to allow austerity to ease Budget positions across the Gulf should improve over the next couple of years – and many will return to surplus – supported in large part by higher oil prices. As a result, governments across the... 13th April 2017 · 1 min read
Middle East & North Africa Economics Update How big is the threat of deflation in the Gulf? The recent dip in Saudi inflation into negative territory following a period of weak growth has raised broader concerns about the threat of deflation in the Gulf. Our core inflation measures for the... 6th April 2017 · 1 min read
Middle East & North Africa Data Response Saudi Arabia GDP (Q4) Saudi Arabia’s economy picked up in the final quarter of 2016, supported by stronger growth in both the oil and non-oil sectors. Cuts to oil output on the back of the OPEC deal will trim headline... 29th March 2017 · 1 min read
