Sound fiscal management and healthy reserves have set Saudi Arabia on track for an upgrade of its key ratings, improving the Kingdom’s investment and growth prospects.
The Middle East Economy
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Economic update | Turkey: Weathering the storm
7 Jun 2013
Turkey's deputy prime minister Ali Babacan recently spoke with OBG on the country's economic performance and 2023 development objectives.
Economic update | Abu Dhabi: Open for business
28 May 2013
A new free zone planned in Abu Dhabi could spur on further investment in the local economy.
With the 2022 FIFA World Cup less than a decade away, Qatar’s government is poised to up the tempo of its infrastructure and development programme after raising expenditures on April 1 for the new financial year. Spending has been increased by 18% in the budget for fiscal year 2013/14, paving the way for the state’s infrastructure investment programme to gather yet further momentum.
As hydrocarbons’ contribution to Kuwait’s GDP is predicted to fall this year, growth is increasingly seen as hinging on the success of an ambitious state investment programme. However, concerns over delays to its implementation have raised questions as to how significantly it will boost GDP.
Despite slowing growth and expectations of a widening current account deficit this year, investors do not appear to be shying away from the Turkish economy, particularly as the easing of political tensions is likely to yield an upgrade in the country’s investment ratings.