Economy
Middle East economy news and analysis, tenders, contracts awarded, commentary and economic data.
Economic Review 2011
Middle East Economic Review 2011: Concerns over instability in the Middle East return
After the global economic crisis, the fiscal forecast for the Middle East was upbeat. Then political unrest swept the region. Growth for most countries now looks to be an even longer uphill struggle
News
Oman releases three Sohar activists
Activists imprisoned for six months for taking part in unrest
UN-backed court to try Hezebollah members for Hariri killing
Members of the Shia political group will be tried in absentia
IMF to seek Saudi cash for European bailout fund
IMF chief Christine Lagarde to visit Riyadh on 4 February
Football riot leaves 74 dead in Egypt
Supreme Council of the Armed Forces announces three-day mourning
Business waits on Kuwait elections
Questions raised over whether new Kuwaiti government will end political impasse
Bahrain prisoners start hunger strike
Tensions rise ahead of first anniversary of anti-government protests
Egypt’s Shura Council elections draws low turnout
Second round of elections to take place in February
Atomic energy agency arrives in Iran
Fact-finding mission is hoped to resolve issues with Iran over its nuclear agenda
Analysis
The Islamist economic model
A clear view of the economic policies of the Islamist parties that are coming to power has still to emerge
An assertive Arab League
Efforts to lead the agenda on Syria are made more complicated by the disparate opposition
Business slumps amid Syria unrest
Escalating violence in Syria and the economic impact of tougher international sanctions are beginning to take their toll on small and medium-sized firms
Islamists win landslide victory
Solving Egypt’s economic woes and reassuring investors will be top priority for the country’s newly elected members of parliament over the coming months
Supporting the Syrian regime
The Kremlin, a close ally of Damascus since the Soviet-era, has doggedly resisted Western attempts to impose meaningful sanctions on Syria by the UN
Bypassing the Strait of Hormuz
Any closure of the strategic oil transit route will hurt Iran, the Gulf and the rest of the world
Comment
Unrest in Syria takes on sectarian hue
The ruling Alawi sect will ensure the unrest continues to avoid handing over power to the Sunni majority
Economic Data
Click on the country name to see more economic and demographic data.
| Country | 2010 | 2011f | 2012f |
| 3.3 | 3.6 | 3.2 | |
| 4.1 | 3.1 | 5.1 | |
| Egypt | 5.1 | 1 | 4 |
| Gaza/ West Bank | 9.3 | 9 | 10 |
| Iran | 1 | 0 | 3 |
| Iraq | 0.8 | 9.6 | 12.6 |
| Jordan | 3.1 | 3.3 | 3.9 |
| Kuwait | 2 | 5.3 | 5.2 |
| Lebanon | 7.5 | 2.5 | 5 |
| Libya | 4.2 | na | na |
| Morocco | 3.2 | 3.9 | 4.6 |
| Oman | 4.2 | 4.4 | 4.1 |
| Qatar | 16.3 | 20 | 7.1 |
| Saudi Arabia | 3.7 | 7.5 | 3 |
| Sudan | 5.1 | 4.7 | 5.6 |
| Syria | 3.2 | 3 | 5.1 |
| Tunisia | 3.7 | 1.3 | 5.6 |
| UAE | 3.2 | 3.3 | 3.8 |
| Yemen | 8 | 3.4 | 4 |
|
f=forecast;
na=Not Available. Source: IMF |
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Country Report
UAE Special Report: Ownership law to boost capital markets
The approval of a new companies law by the UAE parliament in December is a major step towards what could potentially be the biggest shake-up in the country’s corporate history
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