Prospects for the Middle East in the second quarter
Wednesday, March 4, 2015
Subject
Prospects for the Middle East in the second quarter.
Significance
With average oil prices in 2015 likely to be 30-40% lower than in 2014, most countries in the Middle East and North Africa (MENA) region will see a huge change in their financial performance. Oil exporters could face major falls in fiscal revenue and foreign exchange earnings, while oil importers will receive a welcome boost to their budgetary and external accounts. On the security front, regional governments will focus on the threat from an expanding Islamic State group (ISG), and the fallout from a possible nuclear deal between the P5+1 world powers and Iran.
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