Turkish officials have strenuously pointed out over the last few weeks that Turkey has met all the targets for 2001 as agreed with the IMF and has introduced new laws in recent weeks that were set as preconditions for further Fund financing of around $10bn.
The Middle East
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Economic update | UAE Looks to Greater Gulf Unity
22 Jul 2010
The heads of state of the six nations of the Gulf Cooperation Council (GCC) held their annual summit meeting in Muscat at the end of the December, and the new year saw a signed agreement for the establishment of a customs union by 2003 and monetary union and single currency in 2010 after over a decade of negotiations.
Economic update | UAE Stocks Strong
22 Jul 2010
By the end of the trading week on January 10th UAE shares had risen for eight consecutive week, largely due to confidence in fourth quarter results that are expected to be posted in the coming weeks.
Jordan’s stable political environment, as well as the robust growth projections for its economy, should ensure near term investment inflows continue to fuel growth across the board; however, regional instability has been having a negative impact on the country’s tourism sector and rising refugee numbers are putting increased pressure on state services.
Sharjah is the UAE’s third-largest emirate with a population of almost 800,000 and a GDP of roughly $24bn. Government focus on education programmes and the development of a diversified economic base has helped support Sharjah’s robust growth in recent years while its relatively small oil and gas reserves mean the emirate has been less affected than many by the oil price-induced turbulence witnessed over the past two years.