Description

The growth outlook of Q2 2015 for Emerging Middle East and African remains strong undeterred by the shrinkage in oil revenue. Declining oil prices aggravate the essence of diversification and thus, non-oil sectors like agriculture, banking, finance and tourism are anticipated to play a substantial role in the progress of the economy in H2 2015. Rapid population growth and urbanization of the region require environmental sustainability, thus limiting carbon dioxide (CO2) emissions, as GCC countries have some of the highest rates of CO2 emissions in the world. Businesses are expected to play a crucial role in limiting the emissions in H2 2015.