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Saudi bureaucratic lag will hamper change

Location:

SAUDI ARABIA

The state is central both in the economy and in the lives of citizens. Government has been the key driver of economic diversification, but it also poses major obstacles to private…

Saudi economic reform will be gradual

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SAUDI ARABIA

The government has recently taken some modest steps to rein in the budget deficit, including cuts in energy subsidies, and has promised to improve disclosure of its fiscal…

Prospects for the Middle East in the second quarter

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PROSPECTS Q2 2015

Prospects for the Middle East in the second quarter.

Dubai will draw in investment through share offerings

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UNITED ARAB EMIRATES

On the same day, its new USD450mn desalination project, publicised as the most sustainable in the region, was reported to be on track for completion. DEWA, the emirate’s principal…

Post-poll turmoil may worsen Pakistan’s economic woes

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PAKISTAN

The elections, resulting in a fractured mandate and marred by allegations of rigging, have increased polarisation. Separately, Pakistan’s nine-month, roughly USD3bn Stand-By…

Gulf states will boost oil output to varying degrees

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GULF STATES

International decarbonisation calls have prompted the countries to maximise extraction as quickly as possible while demand and prices remain relatively high. Variations in the…

Saudi Arabia may build up to bolder fiscal reforms

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SAUDI ARABIA

Having passed a moderately expansionary 2018 budget, the government on January 1 started to levy value-added tax (VAT). It also cut subsidies on petroleum products.

Philippine leader faces tough challenge on prices

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PHILIPPINES

The fall appears linked to public discontent over elevated inflation, which has clouded the country's economic outlook. Meanwhile, the government is moving slower than it…

Russian harvest will be close to a record high

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RUSSIA

A strong grain and vegetable harvest, and increased animal husbandry production, means that Russia remains a key player in international food markets. During the first nine months…

Middle East and North Africa water security in 2030

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PROSPECTS 2030

Growing populations and climate change are putting additional pressure on the region’s water resources at a time when food security risks are rising in many of the MENA countries…