Despite a sharp downturn in oil prices in the latter part of the year, Abu Dhabi’s economy maintained its solid pace of growth in 2014. Strong fiscal reserves, a low breakeven price of oil and an increasingly diversified economy should ensure expansion is maintained in 2015, though possibly at a slower rate than in past years.
It has been something of a tumultuous year for Qatar’s capital markets. The 12 months saw two major country upgrades, moves to change the rules on foreign ownership, a very successful IPO, a move towards dual listing, ETFs, margin trading and short selling – all underscored by some strong growth in securities, coupled with a bolstering of bonds.
For a regular star-performer among emerging markets, the Turkish economy had a modest year in 2014, with the rate of growth easing and the lira tumbling, though exporters managed to post record earnings despite weaker demand from some key markets.
A major wave of airport building and expansion is taking place, which is set to transform Oman’s international air transport profile. This is also a key pillar of its plans to diversify the economy away from hydrocarbons, giving a lift to everything from tourism to trade.
Considering Oman’s infrastructural needs, which projects require the most attention for the sultanate to reach its development goals?
With the sultanate’s grid of air, land and sea connections unrecognisable in comparison to what it was just a generation ago, Oman’s transport infrastructure has seen some spectacular growth in recent years.
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