MENA Economy  to Plunge in 2017
MENA Economy  to Plunge in 2017

MENA Economy to Plunge in 2017

MENA Economy to Plunge in 2017

The Middle East and North Africa region will next year record its weakest economic growth since the global financial crisis in 2009, according to a report, Arabian Business reported. The latest outlook from Capital Economics warns the region will “struggle” again in 2017 as fiscal policies are tightened to plug current account and budget deficits, which have widened in the past two years as a result of persistent low oil prices. Saudi Arabia is likely to see subdued growth for the most of the year, while, on the other hand, the UAE is expected to be the best performing economy in the (Persian) Gulf Arab countries in 2017 going into 2018, the research said .Overall average growth in the region is likely to weaken to 1.5% in 2017. Capital Economics noted that dollar pegs in the (Persian) Gulf Arab countries would remain in place “but that means policymakers will be forced to follow the US Federal Reserve and hike interest rates”.


Short URL : https://goo.gl/z1aBpE
  1. https://goo.gl/5DSPqd
  • https://goo.gl/ZjzLcm
  • https://goo.gl/AqPci3
  • https://goo.gl/ugrsle
  • https://goo.gl/b0btMu

You can also read ...

Philippines May Suspend Excise Taxes on Petroleum Products
The Philippine government will suspend the collection of...
Jordan Approves New IMF-Guided Tax Law
Jordan’s cabinet on Monday approved major IMF-guided proposals...
At present, the majority of investments are still being done in oil-gas and traditional industries while there is still almost no SME sector in the country.
While Saudi Arabia’s latest budget figures show progress in...
US, China are nearing a deal to remove American sales ban against ZTE.
US President Donald Trump retreated from imposing tariffs on...
Dubai Bank to Buy Turkey’s Denizbank for $3.2 Billion
Dubai’s biggest lender the National Bank of Dubai has agreed...
IHS Markit to  Buy Rival Ipreo  for $1.8 Billion
Data firm IHS Markit Ltd. said it will buy smaller rival Ipreo...
SBI Reports Record $1.1b Loss
State Bank of India reported a loss of Rs. 7,718 crore ($1.1...
EU, Mercosur Discuss Trade Deal
The European Union and South America’s Mercosur bloc could...

Add new comment

Read our comment policy before posting your viewpoints