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
October 6, 2021
The Bank of Israel’s Composite State of the Economy Index grew 0.28% in month-on-month seasonally-adjusted terms in August, which was above July's 0.21% increase.
October 5, 2021
The IHS Markit Purchasing Managers’ Index (PMI)—which measures business activity in the non-oil private sector—dropped to a four-month low of 48.9 in September from August’s 49.8.
October 1, 2021
On 1 October, the OPEC oil basket traded at USD 77.7 per barrel, up 9.1% from the prior month.
September 23, 2021
Consumer prices dropped 0.07% from the previous month in July, swinging from the 0.19% rise logged in June.
September 19, 2021
Consumer prices increased 0.19% from the previous month in June, coming in below the 0.25% increase seen in May.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.