Some economies progress, but projections for growth are cut
Arabia Monitor Monthly
- Moody’s upgraded Egypt’s credit rating to B2 reflecting economic and reform progress under the IMF programme. This will help planned bond issuance.
- Saudi Arabia posted a budget surplus of 0.9% of GDP in Q1, its first since 2014, driven by higher oil and tax revenue as well as subsidy cuts.
- Amendments to Abu Dhabi’s real estate law are expected to encourage longer-term residencies and inject more liquidity into the market.
- The UAE did very well at the Second Belt & Road Forum for International Cooperation in Beijing, with deals worth USD 3.4B, 5% of the total value of deals signed at the Forum.
Florence Eid-Oakden, Ph.D, Chief Economist
Robin Mills, Energy Analyst
Charlene Rahall, Mingqiao Zhao, Analysts
Arabia Monitor’s MENA Monthly publication provides a timely snapshot of most notable recent developments in the dynamic MENA region. Our analysts get past the news to deliver the core, forward looking conclusions that markets-oriented readers look for.
To access this report, please click here.