Macroeconomic growth hit a 25-year low in 2016 as ongoing regional volatility continued to constrain trade, exports and investment. The Syrian refugee crisis has exacerbated existing pressures on fiscal stability and social infrastructure, while public debt has been on an upward trend as the government attempts to cover the costs associated with hosting over 500,000 refugees. However, 2016 may...
The Middle East
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Chapter | Country Profile from The Report: Jordan 2018
The Hashemite Kingdom of Jordan is widely seen as a pillar of stability in a region that has been disrupted by conflict in recent years. Despite challenging surroundings, Jordan has managed to maintain efficient political workings and positive economic growth. As a country with scarce natural resources but a highly educated population, the kingdom aims to become a regional leader in sectors...
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.
A new mining strategy and mining law in Oman, plus efforts to improve port infrastructure, are expected to increase investment and promote growth in minerals exports.
Economic update | SME accelerator initiative to support Bahrain’s diversification strategy
29 Mar 2018
Bahrain has moved to improve its start-up ecosystem as part of plans to further diversify the economy, launching a new funding and training initiative specifically targeting entrepreneurs and small and medium-sized enterprises (SMEs).
An airport infrastructure expansion set to come into operation this year will help Kuwait keep pace with strong growth in passenger movements, as local carriers continue with network expansions and fleet upgrades.