The Middle East

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Although the sultanate’s petroleum wealth has traditionally provided a backbone for growth, efforts are well under way to diversify away from hydrocarbons. Oman Vision 2020 has laid out plans to boost industrialisation within the sultanate and to encourage the private sector to take a more active role in the economy and in the provision of jobs, both of which are billed as key drivers for growth.

Farm exports in Jordan showed substantial growth in 2014, aided by foreign sales of vegetables, while deals with new markets and key investments in water irrigation are strengthening growth potential for future years. 

While a combination of high break-even prices and lower levels of fiscal reserves could see falling oil prices push Bahrain further into the red, the kingdom is still set to post respectable economic growth for the year, buoyed by a solid performance from its non-hydrocarbons sector.

Seven decades of expanding oil production have given Kuwait one of the world’s highest GDP-per-capita ratios. The generous welfare system guarantees free education, health care and housing, while also providing subsidised utilities. GDP growth reached 4.5% in 2013 and is expected to rise to 5% in 2014.

How is the government ensuring a level playing field in the application and promotion processes within the public sector?

 

Government agencies and private companies are working together to try to provide young Saudis with the skills that will allow them to work in the Kingdom’s nonoil private sector, which enjoyed growth of 5.5% in 2013, according to Jadwa Investment. In its current five-year plan the government has earmarked a total of SR23.14bn ($6.17bn) for...

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