The Middle East Economy

This year Kuwait’s economy has stabilised, allowing the country to look forward to a period of renewed growth and dynamism. Following a 4.6% contraction in GDP in 2009, the picture for 2010 and beyond looks significantly brighter. In September the ratings agency Moody’s Investors Services predicted that the economy would grow by 2.1% and 4.5% in 2011. Much of this is attributable to a rebound in demand, and consequently prices, for oil.

Jordan’s Ministry of Planning and International Cooperation (MOP) has released its Executive Development Programme (EDP) for 2011-13, with JD6bn ($8.4bn) to be distributed among 24 different economic sectors.

2010 was a banner year for Qatar. The nation punched well above its weight over the course of the year and looks set to continue to make headlines in 2011 and beyond.

The year 2010 will be remembered in Abu Dhabi for the local government forging ahead with a counter-cyclical spending regime aimed at boosting the economy and buttressing the Economic Vision 2030.

Jordan’s new government has committed to strengthening the economy while also reducing debt levels, though at least to some degree its success or failure will depend on the health of regional and global economies.

Qatar is ratcheting up its campaign to host the 2022 World Cup as the race nears an end. With a decision due on December 2, boosts have come in the shape of a successful staging of a friendly match between South American footballing giants, praise for the emirate’s green credentials and vocal support from none other than Manchester United manager Sir Alex Ferguson.