Emerging Middle East and Africa (MEA) Economic Tracker—Insights and Trends, Quarter 4, 2017

Emerging Middle East and Africa (MEA) Economic Tracker—Insights and Trends, Quarter 4, 2017

Political Uncertainty Weighs on Economic Outlook

RELEASE DATE
28-Dec-2017
REGION
Africa
Research Code: 9A6E-00-13-00-00
SKU: CI00368-AF-DE_21360

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Description

Mounting geopolitical risks dampen the growth outlook for the Middle East countries despite higher oil prices and strong global growth. The intensified political instability in Saudi Arabia with the large scale operation by the Crown Prince to curb corruption led to oil price hitting over two-year high. The economy is expected to stabilize in 2018, supported by the reform agenda toward reduction of oil dependency. In the United Arab Emirates, oil production cuts took a drag on economic growth in 2017. However 2018 outlook appears to be promising with a 5.6% increase in federal budget allocation with a focus on education, healthcare, and non-oil sectors. Lower oil and gas output in 2016 and 2017 weigh on economic growth in Algeria. Nigeria came out of recession in Q2 2017 after 5 quarters of negative growth thanks to higher oil prices. The recovery will continue at a moderate pace in 2018. Qatar’s economic recovery will be deterred by the imposed economic sanctions. Israel's economy is driven by robust private consumption and sound consumer confidence.
Country Coverage – Emerging Middle East and Africa
·     Saudi Arabia
·     The United Arab Emirates
·     Egypt
·     Algeria
·     Nigeria
·     Qatar
·     Israel

Year, Quarter and Month Coverage
·     Yearly Data: 2012 – 2021
·     Quarterly Data: Q1 2012 – Q2 2019
·     Monthly Data: January 2012 – December 2017

Table of Contents

Emerging Middle East and Africa (MEA) Economic Tracker—Insights and Trends, Quarter 4, 2017

Related Research
Mounting geopolitical risks dampen the growth outlook for the Middle East countries despite higher oil prices and strong global growth. The intensified political instability in Saudi Arabia with the large scale operation by the Crown Prince to curb corruption led to oil price hitting over two-year high. The economy is expected to stabilize in 2018, supported by the reform agenda toward reduction of oil dependency. In the United Arab Emirates, oil production cuts took a drag on economic growth in 2017. However 2018 outlook appears to be promising with a 5.6% increase in federal budget allocation with a focus on education, healthcare, and non-oil sectors. Lower oil and gas output in 2016 and 2017 weigh on economic growth in Algeria. Nigeria came out of recession in Q2 2017 after 5 quarters of negative growth thanks to higher oil prices. The recovery will continue at a moderate pace in 2018. Qatar’s economic recovery will be deterred by the imposed economic sanctions. Israel's economy is driven by robust private consumption and sound consumer confidence. Country Coverage – Emerging Middle East and Africa · Saudi Arabia · The United Arab Emirates · Egypt · Algeria · Nigeria · Qatar · Israel Year, Quarter and Month Coverage · Yearly Data: 2012 – 2021 · Quarterly Data: Q1 2012 – Q2 2019 · Monthly Data: January 2012 – December 2017
More Information
No Index No
Podcast No
Author Rituparna Majumder
Industries Cross Industries
WIP Number 9A6E-00-13-00-00
Is Prebook No