Economy

After watching growth top 8% in 2010 and 2011, Turkey is now seeing its economic expansion ease amid a slowdown in growth both globally and in the eurozone, the impact of civil war in Syria and the doubling of interest rates throughout 2012. Increased focus on domestic demand and exports could see growth rebound in 2013, however.

New developments in the logistics sector, alongside an increase in non-oil trade, are expected to keep Abu Dhabi’s economy on track for moderate expansion in the coming year, with plans for further diversification set to deliver increasingly balanced growth.

It has been another year of good growth for Malaysia, even as the international economic climate has been uncertain. Strong domestic demand, government investment, greater diversification and regional resilience have all played their part.

While 2012 may have been marked by an ongoing political stalemate and effects from regional and local unrest, Bahrain managed to overcome negative pressures and produce solid growth for 2012.

Domestic and external pressures have made it a challenging year for the Jordanian economy, with most indicators pointing to 2013 being much the same, as the state seeks to curb spending, promote growth and maintain calm.

Solid investment figures and praise for the state’s financial management have been among the highlights in a year that has seen stable economic growth for Sabah. The focus will now shift to ensuring that budget programmes designed to build on those achievements are implemented properly.