Middle East: How strong will the recovery be this year?
After a painful 2020, the outlook for the GCC region is looking up as we enter 2021. Covid-19 appears to be more under control than in other parts of the world, vaccines are being rolled out at pace and oil prices have rallied above $50pb, while there have also been positive policy developments such as the rapprochement between Bahrain, Egypt, Saudi Arabia and the UAE and Qatar, the Abraham Accords and policy reforms in several GCC countries. These factors will contribute to a recovery in 2021 following the deep contractions driven by the pandemic and oil price slump last year.
|
Scott Livermore |Chief Economist, Oxford Economics Middle East, and Managing Director Scott Livermore is also Managing Director of Consultancy in the Middle East and Asia, as well as a member of Oxford Economics’ Senior Management Team. Scott leads many of the major projects in the GCC and Asia which have recently included capacity building, macroeconomic modelling, and policy impact assessment engagements for government institutions in the UAE, Saudi Arabia, Kuwait, and Oman, and IFRS 9 and Stress Testing engagements in Singapore, Thailand, and Hong Kong. |
Related Services
Event
UK monetary policy outlook: short- and long-term
We will reflect on the messages from May’s Monetary Policy Committee meeting, analysing whether a summer rate cut remains on the table. We will then move on to look at how restrictive the Bank of England’s monetary policy stance is and how far rates might fall in this rate cutting cycle, introducing our estimates of the long-run UK neutral interest rate.
Find Out More
Event
Outlook gospodarczy dla Polski w świetle prognoz dla gospoarki światowej i europejskiej
A divergence has opened in the world economy, with the US faring much better than China and the eurozone on the growth front. During the webinar, we will shed light on our thinking about world and European outlooks and their influence on the CEE region in general and the Polish economy in particular. We will scrutinize both growth and inflation prospects, views on monetary and fiscal policies as well as implications for FX and bond yields performance.
Find Out More