GCC: Growth momentum poised to continue despite extended OPEC+ production cuts

Ongoing reform efforts have elevated non-energy sectors as the main drivers of GCC economic expansion. Our projections show an improving growth trajectory in H2 and next year, while inflation remains low. We are not too concerned about the drag on activity from oil output cuts, but they weigh on public finances, necessitating greater realism on spending plans, especially in Saudi Arabia.

Scott Livermore

Chief Economist, Oxford Economics Middle East, and Managing Director

+971 504 039 455

Scott Livermore

Chief Economist, Oxford Economics Middle East, and Managing Director

London, United Kingdom

Scott Livermore is the Chief Economist of Oxford Economics Middle East and based in Oxford’s Dubai office. He 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.

After completing a degree in Philosophy, Politics and Economics at St. Edmund Hall, Oxford University, and an MSc in Economics at University College London, Scott joined Oxford Economic Forecasting in 1997. During his initial five years at OEF, he worked as a country analyst for a number of European countries and participated in numerous consultancy projects for a variety of international organisations, governments and multinational companies using both Oxford Economics’ Global Economic Model and bespoke economic models.

Scott rejoined Oxford Economics in 2005 as a senior economist after spending two years at the Ministry of Finance in the Slovak Republic assisting with the government’s medium-term macroeconomic framework and developing the analytical capacity of the ministry to prepare such forecasts. He has also held the positions of Managing Director of Macro and Industry Services, Managing Director of Macro Consulting, and COO of Oxford Economics USA.

Maya Senussi

Lead Economist

+44 (0) 203 910 8121

Maya Senussi

Lead Economist

London, United Kingdom

Maya Senussi is responsible for Oxford Economics’ forecasting and research in the Middle East team, with a specific focus on Turkey and several GCC economies. She has nearly fifteen years of experience in the macro research industry working as an Emerging Markets economist.

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