Economic Snapshot for MENA
October 6, 2021
GDP forecast to expand solidly in 2021
Regional GDP will expand robustly this year as oil exporters are set to gain from higher average crude prices and the easing of OPEC+ cuts. In 2022, growth should accelerate as the vaccine rollout and pent-up demand support domestic activity. Moreover, oil output should rise next year as OPEC+ further reduces production cuts.
Inflation to ease
Regional inflation was stable at July’s 13.7% in August as subdued price pressures in Saudi Arabia were offset by stronger inflation in Egypt and Lebanon. This year, regional inflation should average higher than in 2020 due to recovering output. Next year, inflation should moderate as some supply chain disruptions ease.
5 years of Middle East & North Africa economic forecasts for more than 30 economic indicators.
Middle East & North Africa Economic News
November 25, 2021
The Bank of Israel’s Composite State of the Economy Index grew 0.25% month-on-month in seasonally-adjusted terms in October (September: 0.05% mom).
November 22, 2021
The Manufacturing Purchasing Managers’ Index (PMI), produced by Bank Hapoalim and the IPLMA, came in at 55.4 in October, down from September's 58.1.
November 22, 2021
At its 22 November meeting, the Bank of Israel (BoI) left the policy rate at 0.10%.
November 16, 2021
GDP growth waned to 2.4% in seasonally-adjusted annualized rate terms (SAAR) in the third quarter, from 13.7% in the second quarter.
November 15, 2021
Consumer prices rose 0.10% in October over the previous month, coming in below September's 0.20% increase.
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