The Middle East

As oil prices reach recent highs, a number of countries in the Middle East have unveiled fiscal measures designed to balance their budgets after two years of Covid-19 pandemic-related spending. Bahrain is following this trend: in October 2021 it released a plan designed to balance the budget by 2024 (see analysis). In addition to doubling the value-added tax (VAT) to 10%, the...

From remote work to widespread job losses, the Covid-19 pandemic dramatically changed the way people work. These interruptions are likely to have a significant impact on the labour market well into the future. In a briefing from June 2021, the UN said that many emerging markets in particular were experiencing a “full-blown unemployment crisis” that was exacerbating existing...

In October 2021 the government launched a reform and investment programme in line with Bahrain Economic Vision 2030, the country’s long-term development and diversification framework. The package had five pillars: the revised Fiscal Balance Programme (FBP), labour market reforms, regulatory reforms, a strategic projects plan aiming to attract $30bn in investment and a priority...

As countries around the world continue to recover from the economic challenges of Covid-19, it is paramount for government leaders to implement sound policies and develop strategies that will see a return to the level of stability we experienced before the pandemic.