The International Monetary Fund expects several Gulf economies, including Kuwait, to contract in 2026 as the disruption to shipping through the Strait…
Fitch Ratings affirmed Saudi Arabia's long-term foreign-currency issuer default rating at A+ with a stable outlook late on Friday, saying the kingdom's…
The World Bank has reclassified Jordan as an upper-middle-income economy in its annual income classifications effective 1 July, a milestone that coincides…
Egypt is accelerating its state-asset sale programme, listing more government-owned companies on the Egyptian Exchange and moving closer to unlocking about 1.6…
The Bank for International Settlements has warned, in its Annual Economic Report 2026, that record-high public debt has created a new fiscal-financial…
The International Monetary Fund’s credit outstanding plus undrawn commitments stands at 240 billion dollars, Managing Director Kristalina Georgieva told the plenary of the 2026 Annual Meetings in Bangkok on 16 October, and its concessional lending, at 36 billion dollars, is roughly four times its historical average. She said unused lending capacity is roughly three times…
Strong balance sheets continue to underpin the credit ratings of the higher-rated Gulf sovereigns, Fitch Ratings said on Thursday 15 October, with investment income from sovereign wealth funds providing “additional fiscal support” and the UAE’s non-oil economy set to grow 6.1 percent in real terms in 2027. Oman is the one member of the 6-state…
The economies of the Gulf Cooperation Council are set to grow 9.1 percent in 2027, and the recovery of Qatar’s gas capacity will now take a year and a half rather than three years, Jihad Azour, Director of the IMF’s Middle East and Central Asia Department, told a regional briefing in Bangkok on 15 October….
Employment across the OECD area reached a record 70.4 percent of people aged 15 to 64 in the second quarter of 2026, and the labour force participation rate set its own record at 74.2 percent, according to figures released on 15 October. The member-wide unemployment rate was 5.0 percent in August, up from 4.9 percent…
The 32 member countries of the International Energy Agency (IEA) have released approximately 330 million barrels of emergency oil stocks under the collective action agreed in March, and the total will now exceed the 400 million barrels originally pledged, the agency’s Governing Board said on 15 October. The Board agreed to accelerate the remaining volumes,…
The economies of the Middle East, North Africa and Pakistan are projected to grow 6.6 percent in 2027, with oil exporters rebounding as production and trade gradually return to normal after the disruption caused by the war in the region, Jihad Azour, Director of the IMF’s Middle East and Central Asia Department, told a press…
UAE GDP growth is “expected to accelerate to around 10 percent in 2027”, Central Bank of the UAE Governor Khaled Mohamed Balama said in the country’s keynote address at the IMF and World Bank Group Annual Meetings in Bangkok, citing the rapid expansion of non-oil activity, continued infrastructure investment and increased production capacity in the…
Crude oil exports from Gulf producers, led by Saudi Arabia, surged by 4.4 million barrels a day to 13.9 million in September, reaching more than 75 percent of pre-war levels, the International Energy Agency said in its Oil Market Report on 14 October. Global oil supply rose 2.5 million barrels a day on the month…
OPEC raised its forecast for world oil demand growth in 2027 to 2.55 million barrels a day, from 2.36 million a month earlier, in its Monthly Oil Market Report for October, while trimming its 2026 estimate to 180,000 barrels a day from 380,000. Crude production by the countries in the Declaration of Cooperation rose by…
Global public debt is expected to exceed 100 percent of world gross domestic product by 2030, a level last reached in the immediate aftermath of World War II, the International Monetary Fund said in a blog published on 14 October with its October Fiscal Monitor, titled Taxing Better to Boost Growth. The average 10-year government…