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Turkish parties compete on spending pledges for 2023

Location:

TURKEY

President Recep Tayyip Erdogan’s Justice and Development Party (AKP) and the main opposition Republican People’s Party (CHP) are both offering largesse to various social groups…

Saudi Arabian job creation will depend on oil revenues

Location:

SAUDI ARABIA

A major goal of Vision 2030, the kingdom’s strategic development framework, is to address persistently high levels of unemployment, especially amongst young people. Although…

Turkey must reform structurally to meet fiscal targets

Location:

TURKEY

The draft foresees a central administration budget deficit of 80.6 billion lira (14.3 billion dollars) or 1.8% of GDP. Maintaining fiscal discipline would bolster international…

Oman will struggle to balance social and fiscal needs

Location:

OMAN

The additional income is being partly used to direct support to poorer segments of society. However, this has not ended the mounting popular pressure for accelerated change. The…

Saudi demographics may ultimately drive discontent

Location:

SAUDI ARABIA

This means the leadership must manage a significant social change, catalysed by an engaged and 'globalised' youth segment. At the same time, the economy has to accommodate…

Low oil prices set to accelerate Gulf subsidy reform

Location:

GULF STATES

The sharp drop in oil prices to around 50 dollars, half their average level last year, has forced a serious fiscal rethink among the six Gulf Cooperation Council (GCC) states, who…

Financing shortfall will push Oman to uneasy austerity

Location:

OMAN

A fiscal crunch exacerbated by the pandemic and associated oil-price crash has forced the authorities to step up long-term ‘Omanisation’ efforts, ultimately taking pressure off…

Qatar’s diversification plans will lag regional rivals

Location:

QATAR

PMI data indicate that the non-oil private sector continues to expand in 2023 as the government attempts to diversify its economic base away from gas dependency. Regulatory reform…

Kuwait faces a deferred liquidity crunch

Location:

KUWAIT

The impact of the pandemic and especially lower oil prices hit the government budget hard, since more than nine-tenths of revenue comes from oil sales. However, the country also…

Egypt's sanitation plan hinges on funding and strategy

Location:

EGYPT

Egypt's rual sanitation programme.