We expect large rate increases at each of the three meetings remaining in 2022, with the target rate reaching 3.75%-4.00% at year-end. "Our expert economic analysis team always provide actionable insights and perspectives especially in a time when conditions in the global economy are raising many questions about the outlook for growth, inflation and investment," said Samer Alabed, CEO of HSBC in Kuwait. GDP growth in emerging market economies (EMEs) is forecast to be nearly halved in 2022 to 3.5%, down from 6.9% in 2021. The continuous depreciation of the Yemeni Rial, reaching 566 per USD in 2019, has induced high inflation in the country with surging prices of food and basic commodities. In our Market Outlook 2022, we are broadly positive about the near economic future but believe that inflation will continue to be a risk. Respondents in developed economies also report a more downbeat outlook for the coming months: only 36 percent believe conditions in the global economy will improve in the near term, versus 55 percent of their emerging-economy peers. Press Conference; Publications. Report summary. Fitch's Sector Outlook: Improving Oil exporting sovereigns in the Middle East and North Africa (MENA) will register significantly stronger growth in 2022 as the OPEC+ taper drives large increases in oil output, except in Bahrain and Qatar, where oil production will remain stable. A REPORT BY eiu Middle East and Africa: what to watch for in 2022 Our latest report explores political and economic developments that will shape business across the region in 2022 and their key implications for trade and investment opportunities. MEES is a weekly forward-outlook energy publication that has a focus on the Middle East & North Africa, where most OPEC members are. By: Times News Service. Latest Issue; Fiscal Monitor. In our Market Outlook 2022, we are broadly positive about the near economic future but believe that inflation will continue to be a risk. despite better-than-expected momentum in 2021, the economic environment in 2022 is defined by extraordinary headwinds and uncertainties, particularly for commodity importers, with higher and more volatile commodity prices, rising inflationary pressures, faster-than-expected monetary policy normalization in advanced economies, and a lingering The Covid-19 crisis dug a deep economic hole in 2020. After a deep contraction in 2020, the. Global inflation is forecast to rise from 4.7 percent in 2021 to 8.8 percent in 2022 but to decline to 6.5 percent in 2023 and to 4.1 percent by 2024. Muscat: The annual HSBC Economist Roadshow has arrived in the Middle East with an optimistic forecast for the region's economic outlook in 2023 and expectations that the Gulf nations are on course to deliver some of the strongest growth in the world in 2022. Kuwait's economy is heavily dependent on oil revenues. J.P. Morgan Research is forecasting 1.6% gains in the USD index in 2022. The Middle East data canter market witnessed investments of USD 3.89 billion in 2021 and will witness investments of USD 6.73 billion in 2027, growing at a CAGR of 9.56% during 2022-2027. Higher energy prices and supply chain disruptions means 2022 will be the year to finish the job of repairing the global economy. Driving inflation and monetary tightening The sharp rise in inflation experienced in emerging and advanced economies (especially so in the US and Europe), has been driven by: Activities appear to be rebounding strongly across the GCC, driven largely by higher oil output and spending on services as . Latest Issue; Global Financial Stability Report. Russia-Ukraine: The Economic and Market Consequences. The report reveals an overall bullish sentiment in the Gulf and the Middle East despite a gloomy global landscape as market pressures mount and uncertainty heightens. The union of seven emirates,. Within the downloads section you will find excel deliverables for individual countries . Despite better-than-expected momentum in 2021, the economic environment in 2022 is defined by extraordinary headwinds and uncertainties, particularly for commodity . Muscat: The annual HSBC Economist Roadshow has arrived in the Middle East with an optimistic forecast for the region's economic outlook in 2023 and expectations that the Gulf nations are on course to deliver some of the strongest growth in the world in 2022. Leading indicators, such as S&P Global's (previously IHS-Markit's) Manufacturing Purchasing Managers' Index, painted a similar picture (see chart 1). This area is vital to energy security as they have the lion's share of proven world reserves and remain the most cost-efficient producers. For the whole of the Middle East, the International Monetary Fund (IMF) forecasts a 2.7% GDP growth for 2021 in its latest World Economic Outlook report, recovering from the 4% decline seen in 2020. Second quarter GDP was revised upwards from -0.9% to -0.6% as consumption proved more resilient. Prosperity7 was designed for the development of next-generation technologies UAE UAE ranks 1st in Global Entrepreneurship Index 2022 UAE enters the next 50 by being at the forefront of global economies Saudi Arabia What does Moody's giving the PIF an A1 rating mean? World Economic Outlook. Economic Snapshot for MENA October 5, 2022 Economic Growth GDP growth is set to accelerate in 2022, as oil exporters benefit from higher average oil quotas and prices. United Arab Emirates (UAE) - GDP Growth Outlook. March 24th, 2022, 12:53 AM PDT. Regional Economic Outlook on the Middle East and North Africa Monday, October 31, 2022 at 10:45 AM GST (2:45 AM ET) COMING SOON Regional Economic Outlook on the Caucasus and Central Asia Thursday, November 3, 2022 at 12 PM UZT (2 AM ET) Publications. GDP is expected to reach $166.1 billion in 2025 from $137.6 billion in 2019 . Download Economic conditions outlook, March 2022 (PDF-422 KB). Economic performance has been uneven across the regionbecause of differences in severity and the effects of the pandemic. While the euro, Japanese yen, Chinese yuan renminbi and Mexican peso are expected to underperform with G10 commodity . In 2022, the Middle East's largest economy and world's largest oil exporter's gross domestic product was seen growing 4.3%, an upward revision of 100 basis points (bps). But heightened uncertainty surrounds this forecast due to the war in Ukraine and . Private consumption and trade have plummeted and are estimated to remain low over 2022-2025. The HSBC team forecasts economic growth of . Globally, the Middle East (ME) is one of the regions most vulnerable to climate change. World Economic Outlook -Global Prospects and Policies. The economic outlook for the Middle East remains positive despite a darkening global landscape as market pressures mount and uncertainty heightens, according to the latest Economic Insight report. Nearly every ME country has been subjected to some of the lowest precipitation levels historically, and hotter climatic conditions will lead to a surge in demand for electricity to power regional cooling requirements. We expect 10-year yields to rise to 2% by mid-2022 and 2.25% by the end of 2022," said Jay Barry, Head of USD and Bond Strategy at J.P. Morgan Research. In Euromonitor International's Q2 2022 baseline forecasts, global real GDP annual growth is revised downward to 3.1% in 2022 (with a range of 2.0-4.0%), 1.2 percentage points lower than the Q1 2022 forecast. GCC MIDDLE EAST ECONOMY. Middle East Economic Outlook 2022. Globally, the Middle East (ME) is one of the regions most vulnerable to climate change. The region's oil-exporting countries are benefiting from . Growth for 2023 was . We are now facing a gloomy and uncertain outlook. The latest economic update from Oxford Economics and commissioned by chartered accountancy body ICAEW, reports that economic recovery is slowly underway in the Middle East but won't return to pre-crisis level until 2022.GDP forecasts for the Middle East for this year and next stand at -6.8% and +2.9%, compared to an average pace of 2.6% between 2010 and 2019. The report, commissioned by ICAEW and compiled by Oxford Economics, reveals that the Middle East GDP is projected to grow at 5.2 percent in 2022, an increase of 1 percentage point on Oxford Economics . "The global economy is still reeling from the pandemic and Russia's invasion of Ukraine. Key Features: - covers the Middle East and North Africa from Algeria to Yemen - includes topical contributions from acknowledged experts on regional affairs - accurately and impartially records the latest political and economic developments . In fact, cooling already accounts for 70% of residential power demand. Inflation in Malta, although high from a historical perspective, is one of the lowest in Europe, and has been driven mainly by food and services. Download paper The Covid-19 crisis dug a deep economic hole in 2020. What actions can the region's key economies take to leverage their recent massive investments in response to the pandemic to shape a robust and more inclusive recovery? For the US, 2022 real GDP growth forecast was revised downward by a 0.5 percentage point relative to previous forecasts to reach 2.5%. Key analysis about the war from across our macroeconomic and markets services. going into 2022, many of the main issues that dominated the european union's (eu) relations with the countries of the middle east and north africa (mena), from the ongoing talks in vienna to revive the 2015 iran nuclear deal or joint comprehensive plan of action (jcpoa) to the conflicts in syria and yemen, as well as the uncontrolled influx of WASHINGTON, April 14, 2022 Economies in the Middle East and North Africa (MENA) region are expected to grow by 5.2% in 2022, the fastest rate since 2016, on the back of oil-price windfalls . The Middle East looks likely to lag, with regional growth projections of 4.1% in 2021 and 3.7% in 2022, following a downturn of 3% in 2020. WASHINGTON, April 14, 2022 Economies in the Middle East and North Africa (MENA) region are expected to grow by 5.2% in 2022, the fastest rate since 2016, on the back of oil-price windfalls benefitting the region's oil exporters. Energy sector to drive Middle East growth despite mounting global economic pressures. 28 February 2022. During a session on the "Middle East and North Africa Economic Outlook" at Davos, Saudi Arabia's finance minister said the outlook for the Middle East and North Africa is "generally positive" but common challenges remain. The IMF announced on Tuesday (July 26, 2022) a 3.2% revised downward forecast to global growth in 2022 and 2.9% in 2023. The people of the broader Middle East and North Africa (MENA) make up nearly 10% of the world's population as it approaches 8 billion. Global growth is expected to remain at the same level of 3.1% in 2023 (with a range of 1.8-4.2%). April 27, 2022 Regional Economic Outlook April 2022 Middle East Central Asia Description: The war in Ukraine and sanctions on Russia are exacerbating the divergence in recovery prospects for the Middle East and Central Asia. High vaccination rates in the Gulf Cooperation Council (GCC . The rise in energy prices has provided strong support to the . Middle East Gulf: home to some of the world's largest oil producers . Dubai: GCC's largest economy Saudi Arabia is expected to record a 2.6 per cent growth in 2021 compared to an estimated 3.9 per cent contraction in its 2020 GDP growth and move to a faster growth. GDP will grow 5.2% by end 2022, but Ukraine war and COVID-19 add to uncertainty. The HSBC team forecasts economic growth of 6.5 per cent in 2022 for the economies of the Gulf Cooperation Council (GCC), making this . Mohammed Al Jadaan said energy security as a result of Covid-19 and the recovery from the pandemic, which has also . The economic outlook depends on a successful calibration of monetary and fiscal policies, the course of the war in Ukraine, and growth prospects in China. The Middle East Institute is proud to host the IMF's Masood Ahmed for a discussion about the economic prospects in the MENA region. 2. CE Interactive's guide to the pandemic and its economic impact. Instead, the world looks very different now, with significant implications for the Middle East. For Algeria, starting with the October 2022 WEO, total government expenditure and net lending/borrowing include net lending by the government, which mostly reflects support to the pension system and other public sector entities. Certainly, the higher prices seen on crude oil are helping buoy the economic outlook for the region into 2022. In practice, the recovery has not been as straightforward as that metaphor might suggest. Foreign policy will be guided by commercial ambitions, by security concerns over Iran and Islamist militancy and by a reduced US presence regionally. Photo: IHG Deena Kamel Sep 20, 2022 Listen In English Listen in Arabic The eurozone as a whole is now predicted to grow by 2.5% in 2022 and by 1.9% in 2023, compared to growth of 5.4% recorded in 2021. Hospitality group IHG 'cautiously optimistic' on Middle East growth outlook in 2022 Company in 'deep discussions' with investors to bring its luxury brands Regent and Kimpton to Egypt, the UAE and Saudi Arabia InterContinental Ras Al Khaimah Resort and Spa. The eurozone and UK are now expected to enter recession later this year and the US is expected to suffer a mild recession in mid-2023. This monthly update incorporates price forecasts and differentials, crude runs, refining margins and product-by-product supply-demand balances through to end-2023. Recent developments: The Middle East and North Africa (MENA) region experienced a strong economic recovery in the second half of 2021 bringing, output back to its prepandemic level in some economies- . October 16, 2022. World Economic Outlook. We take Fed governors at their word: a restrictive policy stance will be maintained until inflation is under control. Meanwhile, oil importers will generally lose steam due to higher inflation. Oil exporters should witness solid annual real GDP growth in the 5-7% range in 2022-23 on the back of rising oil revenues, accelerating from a 3.8% bounce back estimated for 2021. IMF July 2022 World Economic Outlook. Chart 1 In 2023, regional growth should ease on cooling hydrocarbon prices and softer oil output growth. Latest Issue; An increase in . Regional Economic Outlook, April 2022, Middle East and Central Asia, Paperback by International Monetary Fund (COR), ISBN 9798400209093, ISBN-13 9798400209093, Brand New, Free shipping in the US At 5.5%, our 2022 growth forecast for the region is slightly up on three months ago, underpinned by solid projections for activity in the GCC economies where we now see GDP growing by 6.7% this year. Overall, we expect higher oil revenues to provide a further uplift to real GDP growth in the MENA region from 4.1% in 2021 to 5.2% in 2022 and 4.6% in 2023. Nearly every ME country has been subjected to some of the lowest precipitation levels historically, and . Latest Issue; Finance & Development THE MONEY REVOLUTION, September 2022; Annual Report . Pressures on healthcare in low-vaccinated countries will continue their struggle to contain covid-19. The main reason why Malta's inflation rate has stayed the . January 2022 . This edition of the World Bank MENA Economic Update estimates that the Middle East and North Africa (MENA) region's economies will grow by 5.2% in 2022, the fastest rate since 2016. Key Themes. Middle East Economic Outlook 2022. Economic performance early in 2022 was mixed, with Poland and South Africa enjoying strong growth, but high-frequency activity indicators pointing to a weak start to the year for Turkey. Middle East - Top 3 Growth Opportunities. Jun 20, 2022 by Energy Connects. The latest quarterly Outlook reports from across our macro and markets services. The Economic Impact of Climate Change Provided the Omicron variant does not prove too disruptive, we expect Middle East GDP to accelerate to 4.4 per cent in 2022, after an estimated expansion of 3 per cent this year (up from 2.6 per cent three months ago). This edition of the World Bank MENA Economic Update estimates that the Middle East and North Africa (MENA) region's economies will grow by 5.2% in 2022, the fastest rate since 2016. The outlook for the Middle East remains positive despite a significant downgrade in global GDP growth, rising CPI inflation and rising interest rates. Specifically, he will discuss the prospects for the Middle East and North Africa region in light of the global economic recovery that has begun to gain traction after the deepest downturn in recent history. The fallout from the war in Ukraine is rippling through Africa, with commodity and food prices shooting higher on fears of supply . Now in its sixty-eighth edition, this title continues to provide the most up-to-date geopolitical and economic information for this important world area. Saudi Arabia and Qatar - GDP Growth Outlook. Bloomberg Daybreak: Middle East. The UAE will be politically stable in 2023-27 with Sheikh Khalifa bin Zayed al-Nahyan maintaining policy stability as president following a smooth transfer of power in May 2022. The fund's assets increased to $412 billion in 2020 from $152 billion in 2015 The oil industry accounts for 40% of the GDP and 95% of exports. United Arab Emirates (UAE) - GDP Growth Outlook. This 2022 global economic outlook research provides a global growth snapshot by identifying growth conditions, policy expectations, and economic risks. Middle East - Top 3 Growth Opportunities. By Brent White Mar 15, 2022 Newsletter The update showed that real GDP for the Middle East and North Africa (MENA) region is projected to expand by 4.1 per cent in both 2021 and 2022, an upgrade of 0.1 and 0.4 percentage points . The. COVID Macro Monitor. In 2021 that hole was filled in. The United Arab Emirates, a global trade hub and the GCC's second-biggest economy, was forecast to grow 4.6% in 2022, a slight upgrade from the previous poll. The slowdown in global economic activity is broad-based and sharper-than-expected, with inflation higher than seen in decades. EMEs are also feeling the pressure of supply-chain bottlenecks and inflation, but due to lower vaccination rates, are also at greater risk of new Covid outbreaks. The IMF anticipates 4.1 percent growth across the GCC in 2022, ensuring that we return to (and possibly exceed) pre-COVID-19 levels of economic activity this year. We now expect world GDP to grow by 2.4% in 2022 - revised down by 0.5pp - and by just 1.7% in 2023, cut by 1.0pp. July 2022 Our last report was written on the cusp of the invasion of Ukraine and at a time when there were expectations that factors such as OPEC+ tapering and a potential Iranian nuclear deal could dampen energy prices and inflation. Regional Economic Outlook on the Middle East and Central Asia Monday, October 31, 2022. The report warns an acceleration in inflation is putting pressure on households' finances and businesses' margins, while leading central banks to tighten monetary policy aggressively, with recession once again on the horizon in many economies. The final Economic Outlook event took place on the eve of the invasion of Ukraine by Russian troops that followed weeks of uncertainty, which had threatened to weaken consumer and business confidence just as the EMEA region was emerging from the worst of the COVID-19 pandemic. Muscat: The annual HSBC Economist Roadshow has arrived in the Middle East with an optimistic forecast for the region's economic outlook in 2023 and expectations that the . How social contracts between the people of the region and their governments might change. Middle East and Central Asia. In Kuwait, GDP growth of 7.2% is forecast for 2022 and 2.6% in 2023. This is the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the COVID-19 pandemic. Middle East product markets short-term outlook March 2022. While the Middle East and North Africa region is projected to grow by around 5% in 2022, unemployment has risen and war in Ukraine has exacerbated inflationary pressures that could hamper the prospects of several countries. Saudi Arabia and Qatar - GDP Growth Outlook. Weaker growth could see inflation moderate to 4.7 percent in 2023 after averaging 7.6 percent in 2022. We expect the Middle East and Emerging Asia to maintain the . The Central Bank of the United Arab Emirates said it expects the UAE economy to grow 4.2% in 2022, accelerating from last year's 2.1% growth. despite better-than-expected momentum in 2021, the economic environment in 2022 is defined by extraordinary headwinds and uncertainties, particularly for commodity importers, with higher and more volatile commodity prices, rising inflationary pressures, faster-than-expected monetary policy normalization in advanced economies, and a lingering The European Commission forecasts growth of 4.9% and 3.8% in 2022 and 2023, with the main drivers being exports and domestic consumption. Three overall areas to monitor in 2022 in the broader Middle East include: 1. Middle East lags global recovery The IMF is projecting world economic growth of 6% this year and 4.9% in 2022, after a downturn of 3.2% in 2020 because of the COVID-19 pandemic.
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