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 Bahrain has pushed successfully to become one of the most diversified economies in the Gulf region, petroleum products still make up a significant share of the country’s total exports: 50% of all exports in 2016, according to data from the UN International Trade Statistics Database and the World Bank. In addition, the drive to establish a flourishing industrial base, coupled with...
Egypt continues to strive, not just for energy independence, but to return to its status as a regional exporter. With oil and gas fields in the Gulf of Suez, the Mediterranean Sea and the Western Desert, the country has been a site of energy exploration since the early 20th century. With recent discoveries of major natural gas deposits as well as continued exploration announcements, a low-cost...
Greater involvement from private energy companies, especially on the production side, has led to increases in electricity production capacity, which reached 2020 MW in 2017. While gas-fuelled thermal power plants accounted for 80% of production that year, plans to boost hydropower capacity, and upcoming biomass and solar power projects, will be critical to diversifying the energy mix and...
Côte d’Ivoire has seen rapid growth since a decade-long bout of civil unrest ended in 2011, registering an average GDP growth rate of 9.3% in the five years to 2016. By far the biggest economy in the UEMOA and the third largest in ECOWAS, the IMF expects GDP expansion in the West African nation to be sustained, forecasting growth of above 7% through to 2019.
As Egypt enters 2018, a newly liberalised local currency and the recent implementation of a much-anticipated investment framework have left the country well positioned for continued economic expansion: the IMF expects GDP growth to reach 4.5% in 2018 and accelerate to around 6% over the medium term.
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