Economic Snapshot for MENA
September 20, 2022
Economic Growth
Regional growth is set to pick up pace this year. In oil exporting countries, higher OPEC+ quotas on average will boost crude output and higher hydrocarbon prices will bolster public finances. Most oil importing countries are set to grow at softer paces on higher inflation. Risks include food insecurity, extreme weather and sociopolitical instability in several countries.
Inflation Outlook
Regional inflation is seen broadly stable this year. Inflation in Iran, Saudi Arabia and Yemen is set to soften. Most other countries will experience higher inflation, owing to stronger GDP growth and higher food and fuel prices. The resumption of Ukrainian grain exports from July should dampen food price pressures ahead, although extreme weather poses an upside risk.
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5 years of Middle East & North Africa economic forecasts for more than 30 economic indicators.
Middle East & North Africa Economic News
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Israel: Composite State of the Economy Index rebounds in August
September 22, 2022
The Bank of Israel’s Composite State of the Economy Index increased 0.06% month-on-month in seasonally-adjusted terms in August (July: -0.06% mom).
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Israel: Manufacturing PMI records worst reading since March in August
September 20, 2022
The Bank Hapoalim/IPLMA Manufacturing Purchasing Managers’ Index (PMI) came in at 49.5 in August, down from July's 57.6.
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Saudi Arabia: Inflation rises to over one-year high in August
September 16, 2022
Inflation edged up to 3.0% in August from July’s 2.7%.
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Israel: Inflation recedes in August
September 15, 2022
Inflation dropped to 4.6% in August, below July’s 5.2% and undershooting market expectations.
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Israel: Merchandise exports increase at a faster pace in August
September 11, 2022
Merchandise exports rose 14.0% over the same month last year in August, following July’s 12.9% jump.
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