As hydrocarbons forms the backbone of Kuwait’s economy, the resurgence in global commodity markets bodes well for the future and has led to a renewed sense of optimism. The recovering market is also supporting the government’s diversification efforts under the auspices of the Kuwait National Development Plan, or New Kuwait.
Sharjah has long played an important economic and cultural role in the UAE, and boasts one of the most diversified economies by regional standards, with no individual sector accounting for more than 20% of GDP.
Holding the potential to become a major economic growth driver, Jordan’s ICT sector has seen decades of robust telecoms expansion and a liberalisation agenda launched in the early 2000s, supporting rapid growth in mobile penetration and internet usage. Jordan’s ICT sector has been the focus of a series of recent government reforms aimed at supporting macroeconomic growth, with new lending...
As ongoing volatility continues to hamper growth in the region, Jordan has made significant progress in preserving macroeconomic stability and reducing its fiscal deficit in the past few years. Efforts to the fulfill the stipulations of a $723m extended fund facility agreement with the IMF continue, and the government may need to pursue more widespread reforms to increase income tax revenues and limit tax avoidance so as to sustain recent momentum.
Although Bahrain has faced economic headwinds in recent years, the modest recovery of oil prices in 2017 bodes well for the future in addition to the non-oil sector driving growth, with activities unrelated to hydrocarbons extraction forecast to expand by 3.9% in 2018.
Recognised by the government as an engine for growth, economic diversification and social cohesion, the ICT sector in Bahrain is expected to play a vital role in enabling the kingdom to achieve its ambition of becoming a regional centre for digital technology. Since ownership was liberalised in the early 21st century, the telecoms industry has made a direct contribution to the development of...
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