CATEGORY: Economic Snapshots
Gabon’s economy has reached a critical juncture in 2016, with the drop in global oil prices having increased the need for and urgency of economic diversification, while reducing the availability of public financing to back the transformation. Under the now seven-year-old economic strategy, the Emerging Gabon Strategic Plan, the government has hastened efforts to expand the scope of economic activity, focusing on financial services, tourism and agriculture.
Morocco has had success in its recent efforts to build up export-oriented manufacturing projects, which should take over from more traditional industries in driving growth, as well as provide higher-quality employment over the longer term. If the kingdom can continue to attract major investment in high-growth-potential industries such as automobiles, aeronautics, agri-business and offshoring, while also developing well-integrated business ecosystems in these areas, it could achieve the sort of growth rates seen in other emerging markets
Like other countries in the GCC, Saudi Arabia is undergoing a period of deep economic transformation aimed at easing the pressure on government revenues imposed by a sustained period of low oil prices, while also increasing the contribution of non-oil industries to the national economy. To this end, the government has launched Vision 2030, a long-term policy plan focused on modernising the public sector, developing the country’s human capital and opening up to greater foreign investment.