Skip to content Skip to Search
Skip navigation

Economy

Economy and markets news from the Middle East. All the important stories, exclusive interviews, plus authoritative opinion and analysis

Economy overview

Economy news

Traders on the floor of the New York Stock Exchange on Friday. Markets around the world have been rocked by Trump's tariffs

Aramco losses mirror wider Saudi stock plunge

The Saudi stock market opened at more than 2 percent lower on Monday to a 17-month low, following its biggest single one-day drop since the 2008 financial crisis. The Tadawul All Share Index (Tasi) tumbled by about 1,025 points or 8.6 percent following US President Donald Trump’s announcement last week of a minimum 10 percent […]

Scoreboard, Text, Number

Goldman Sachs raises odds of US recession risk to 45%

Goldman Sachs has raised the odds of a US recession to 45 percent in the next 12 months. It joins other investment banks in revising their forecast as fears of a trade war grip markets after sweeping tariffs from US President Donald Trump. Goldman raised the probably of a recession in the next 12 months from a previous estimate of 35 percent.  The decision followed a sharp […]

A market trader in Amman, Jordan. The country's agriculture sector showed growth of 8.4 percent

Jordan’s 2024 economic growth beats initial forecast

Jordan’s gross domestic product (GDP) expanded 2.7 percent year on year in the fourth quarter of 2024, beating a consensus forecast of 2.5 percent, according to official government data. Full-year growth reached 2.5 percent, surpassing the initial forecast of 2.3 percent despite regional headwinds, state-run Jordan News Agency reported citing data from the statistics department. […]

People, Person, City

UAE’s non-oil private sector growth slows

Growth in the UAE’s non-oil private sector eased in March, a survey showed on Friday, highlighting a softening in demand momentum in the Gulf region’s most diversified economy. The seasonally adjusted S&P Global Purchasing Managers’ Index (PMI) slipped to 54.0 last month from 55.0 in February, marking the slowest pace of growth since September. New […]

European Commission president Ursula von der Leyen and Egyptian president Abdel Fattah El Sisi met in Cairo in December 2024

EU clears €4bn funding to support Egypt’s economy

The European parliament has approved €4 billion ($4.3 billion) in funding to Egypt to bolster economic resilience in what is the most populous country in the Middle East. The parliament adopted Egypt’s macro-financial assistance with 452 votes in favour, 182 against, and 40 abstentions, it said in a statement.   In March 2024, the EU […]

Shoppers in a mall in Istanbul. The Turkish consumer price index measure of inflation has fallen for 10 months

Turkish inflation cools but may soon rise again

Turkey’s inflation rate eased for the tenth straight month in March, although there are concerns that persistent political unrest could lead to a reversal of this trend in coming months, as the cost of a weaker currency and disruptions to the economy flow into the pricing chain.  The consumer price index fell to 38.1 percent […]

A house in Amizmiz, Morocco, that was destroyed in an earthquake. The new IMF credit line will assist the country in rebuilding

IMF loans Morocco $4.5bn to support economy

The International Monetary Fund (IMF) has approved a new credit facility for Morocco to help in crisis prevention and to support reform. The new two-year $4.5 billion flexible credit line (FCL) will assist the country in rebuilding buffers and accelerating structural reforms in an uncertain external environment, the IMF said in a statement. The facility […]

Gold, traditionally seen as a hedge against political and financial uncertainty, has surged over 19 percent so far this year

Safe-haven gold hits record peak after Trump’s tariffs

Gold hit a record high on Thursday as nervous investors rushed towards safe-haven assets following US president Donald Trump‘s more aggressive-than-anticipated tariffs against major trading partners. Spot gold was up 0.4 percent at $3,145.93 an ounce, as of 00:18 GMT, after hitting an all-time high of $3,167.57 earlier in the session. US gold futures firmed 0.1 percent […]

US treasuries are considered a haven for Gulf investors – and there are few alternatives aside from gold, says one expert

US treasuries could become less of a safe bet for Gulf investors

Economic advisers to President Donald Trump have proposed radical policies that could dim the allure of US government bonds for Gulf sovereign investors. The bonds, commonly known as treasuries, are considered among the lowest-risk investments. Many countries with excess dollars – from trade surpluses with the US or the sale of dollar-denominated goods such as […]

Sign of the times: The new Saudi riyal, left, and the Dirham

UAE and Saudi Arabia to introduce their own currency symbols

Within five weeks of each other, Saudi Arabia and the UAE have announced newly designed currency symbols for the riyal and the dirham, a decision that both countries says would strengthen their respective currencies’ place in the global economy. They join a small, but growing, list of states that use unique symbols to refer to […]

New residential buildings being constructed for people left homeless after the earthquake in Hatay province, Turkey

World Bank gives $500m to create new jobs in Turkey

Turkey is to receive $500 million from the World Bank to support economic recovery in areas devastated by the February 2023 earthquakes, according to a statement. The earthquakes killed more than 50,000 people and displaced more than 3.3 million. They are estimated to have inflicted a $104 billion hit on the Turkish economy, the Strategy and […]

People, Person, Adult

Trump to visit Saudi Arabia, UAE and Qatar by May

US President Donald Trump said on Monday he plans to visit Saudi Arabia as early as May to sign an investment agreement in what will be the first foreign trip of his second term, with stops also planned in Qatar and the UAE. “It could be next month, maybe a little later,” Trump told reporters […]

Abu Dhabi's real estate sector expanded by 4.2 percent, pointing to steady demand and investment in property development

Abu Dhabi economy grew 4% to $327bn in 2024

The non-oil sector has pushed Abu Dhabi’s economic growth to a new high. Real GDP in the the UAE’s largest and most wealthy emirate expanded by 4 percent year on year in 2024, reaching AED1.2 trillion ($327 billion), state-run Wam news agency reported. The growth was driven by an annualised 6 percent increase in the […]

The Awali oilfields in Bahrain. The government is pushing for the original site to gain Unesco recognition.

Bahrain at a crossroads: Economic challenges loom

The nodding donkeys in Awali, where oil was first discovered in the centre of Bahrain in 1932, are museum pieces now. The government is pushing for the surrounding oil settlement, an unreconstructed mid-twentieth century company town complete with cricket pitch, pub and church, to be listed by Unesco as a world heritage site. To the north […]

UK FDI inflows to Oman were again focused mainly on oil and gas

UK largest source of FDI in Oman, led by oil and gas

Companies from the UK were once again the biggest source of foreign direct investment to Oman last year, with FDI focused primarily on oil and gas, Oman government data show. UK companies pumped nearly OR2.85 billion ($7.4 billion) into the sultanate last year, making them accountable for more than half the cumulative stock of FDI, […]

Traders on the floor of the Kuwaiti bourse. The government said the new law will push forward economic development in line with Vision 2035

Law change enables Kuwait to tap global debt markets

Kuwait can now borrow money from international markets after an eight-year hiatus. The government has issued a new law that sets the public debt ceiling at KD30 billion ($97.4 billion) and allows the issuance of financial instruments with maturities extending up to 50 years, the state-run Kuna news agency reported. The law will bolster financial stability and […]

A street in Cairo. Egypt's 2025/26 budget allows for expenditure increases of almost 20 percent

Egypt unveils $91bn budget amid IMF reform pressure

Egypt’s cabinet approved an EGP4.6 trillion ($91 billion) draft state budget for the 2025/26 financial year that will begin in July, a government statement said on Wednesday, as it continues to tighten its finances under an International Monetary Fund programme. Expenditures will rise by 18 percent and revenue by 19 percent over the current 2024/25 […]

Egypt's planning minister Rania Al-Mashat said she expected the financing to be adopted by the EU's 27 members in June

Egypt poised to receive more EU funding this year

Egypt is expected to sign a memorandum of understanding with the European Union (EU) on previously agreed financing worth €4 billion ($4.3 billion) in the second half of the year, planning minister Rania Al-Mashat said on Wednesday. The financing is part of a €7.4 billion funding package agreed between Egypt and the EU in March […]

Tunisia's banking changes, specifically decreasing cheque reliance, are negatively affecting business income and slowing overall economic progress

Cheque ban and banking changes endanger Tunisian growth

Reforms aimed at reducing Tunisians’ usage of cheques and thereby cutting consumer debt are having a negative impact on the country’s overall economic growth, according to economists. Cheques had until recently been an important tool for both payments and credit in Tunisia, but in February new laws aimed at strengthening the ailing Tunisian economy and […]