The MENA economy grew at the fastest rate since the early 2000s in 2022. The region’s oil producers hiked crude output in response to soaring energy prices caused by Russia’s invasion of Ukraine, while the region’s non-oil firms flourished as they reopened from the Covid-19 pandemic. Momentum has since slowed, and the risks to the MENA economic outlook have grown. However, the MENA region still shows great promise. Our panelists see economic growth in the MENA region picking up in 2024 and 2025 as OPEC+ rolls back its production cuts, and the region’s governments—particularly in the Gulf—are pressing ahead with ambitious plans to diversify the economy away from oil. Â
This report also showcases our newly-upgraded coverage for Qatar and Kuwait, with our in-house team of economists now covering high-frequency data for both countries.Â
Read our latest special report on the MENA economic outlook to see:Â
- GDP, oil and non-sector, inflation and fiscal forecasts for the region’s key economiesÂ
- A breakdown of our Consensus Forecasts by panelist Â
- Key risk factors Â
- Insights from our analysts Â
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