Middle East and Africa (MEA) Economic Tracker—Insights and Trends, H2 2018

Privatization Led Non-oil Sector Growth Drive Economic Growth in the Region

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Economies of the Middle Eastern countries will remain modest due to higher oil exporting revenue being moderately offset by recession in Iran. Higher oil prices are expected to drive oil and gas and hydrocarbon sector in the region, with Saudi Arabia leading the pack in 2019. OPEC oil production dipped in November 2018 due to fall in Iranian production. OPEC will slash output by 1.2 million bpd to tackle supply glut in 2019 and oil prices from plunging. This will affect the growth outlook of the oil exporting countries. Possibility of a supply gut in 2019 driven by low global oil demand and large increases in US shale oil production might potentially compel OPEC for another round of production cut. Robust priva

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Middle East and Africa (MEA) Economic Tracker—Insights and Trends, H2 2018Middle East and Africa (MEA) Economic Tracker—Insights and Trends, H2 2018Middle East and Africa (MEA) Economic Tracker—Insights and Trends, H2 2018




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