As ongoing volatility continues to hamper growth in the region, Jordan has made significant progress in preserving macroeconomic stability and reducing its fiscal deficit in the past few years. Efforts to the fulfill the stipulations of a $723m extended fund facility agreement with the IMF continue, and the government may need to pursue more widespread reforms to increase income tax revenues and limit tax avoidance so as to sustain recent momentum.
The construction sector in Myanmar has experienced some turbulence in recent years. Changes to the regulatory framework and budget deficits have had an impact on the construction of houses, while plans to upgrade the country’s infrastructure have faced economic and political constraints. Nonetheless, the government is determined to move forward with new regulations and secure funding for a...
Occupying a strategic position at the crossroads of India, China and Thailand, and now in its seventh year of sweeping economic liberalisation and political transition, Myanmar remains one of the fastest-growing economies in South-east Asia.
Although Bahrain has faced economic headwinds in recent years, the modest recovery of oil prices in 2017 bodes well for the future in addition to the non-oil sector driving growth, with activities unrelated to hydrocarbons extraction forecast to expand by 3.9% in 2018.
While 2017 saw the construction sector’s rapid growth slow somewhat, Bahrain has an impressive pipeline of projects lined up for the next few years. A strong focus on transportation and industrial infrastructure, as well as the construction of tens of thousands of affordable housing units, is expected to be among the key drivers of growth for the sector in the near future, with much of this...
In current prices, the construction sector’s value-added was equal to 5.9% of GDP in 2016, according to the BCEAO, up from 1.7% in 2010. Overall, strong demand for residential units and office space, as well as government-led social housing initiatives and falling mortgage interest rates, should underpin continuous development and sales growth over the medium term. This should be bolstered by...
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