Economy

Growing interest from China in the Asia-Pacific region has driven up investment in Papua New Guinea (PNG), helping to accelerate economic expansion.

The central bank in Malaysia is keeping an eye on macroeconomic stability at a time when a cooling external environment is putting pressure on growth. While international factors are starting to affect overall economic performance, domestic demand remains relatively robust, supported by consumer spending and public investments.

Authorities in Papua New Guinea (PNG) are hoping a new emphasis on developing small and medium-sized enterprises (SMEs) will generate up to 2m jobs in the next decade or so and boost the number of locally owned businesses. However, critics say that the government will first need to improve infrastructure and access to credit.

Developing stronger ties between Jordan and Iraq was among the topics of discussion at the latest World Economic Forum (WEF) on the Middle East and North Africa, which was hosted by the Kingdom in May.

Government officials are becoming increasingly concerned that Turkish exporters could face stiffer competition in their biggest markets due to a looming free trade agreement (FTA) between the EU and the US, a deal that could undermine Ankara’s Customs Union with Europe.

Sound fiscal management and healthy reserves have set Saudi Arabia on track for an upgrade of its key ratings, improving the Kingdom’s investment and growth prospects.