Description

Middle Eastern economic growth is likely to remain somber due to the geopolitical turbulences throughout 2015 out of the collapse in oil prices as well as Iran nuclear deal. While Saudi Arabia is contemplating a loss of market share given increased oil production from Iran, The United Arab Emirates and Qatar are trying to remain resilient with impressive non-oil sector growth. The African countries such as Algeria and Nigeria are also expected to struggle with subdued growth due to their heavy reliance on oil export.