Description

Emerging Middle East and Africa (MEA) is one of the fastest developing regions, with economies showing relative resilience to the global economic downturn and strengthened performance expected in the short term. Within the MEA region there are divergent growth patterns in H2 2013. The political instability in Egypt has severely hampered growth prospects in this country. Other countries, such as Nigeria, Saudi Arabia and The United Arab Emirates, remain dependent on oil production, but non-oil sectors show growth promise in 2013 and into 2014. African countries, such as Algeria and Nigeria are also gaining momentum from government-led growth initiatives and strong consumer spending.