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A cabinet reshuffle in Brunei Darussalam has sharpened the country’s focus on tourism against a backdrop of sluggish industry growth and falling visitor numbers.

Like many of its emerging market peers, Mongolia felt the weight of falling commodities prices and weaker global demand in 2015. However, progress made in moving major mining and transport infrastructure projects forward is expected to pave the way for recovery in the near to medium term.

With the $8bn expansion of the Suez Canal now complete, Egypt is looking to stimulate activity in the surrounding area, with the ICT sector one of the main focal points.

The need for economic diversification was underscored this past year as the Kuwaiti economy came under pressure from lower oil revenues.

Strong domestic demand and increased government spending helped sustain high levels of economic expansion in the Philippines throughout 2015, though a slight slowdown was observed late in the year as demand from the country’s main trading partners eased. 

Falling oil revenues and an expanding budget deficit were the hallmarks of Saudi Arabia’s economic activity in 2015, as heavy investment in development projects widened the Kingdom’s spending gap.