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Lower returns from the energy sector due to weaker prices and a drop in production weighed down Trinidad and Tobago’s economy in 2016, though stronger prospects for the industry in the new year should fuel a rebound in 2017.

With state revenues significantly impacted by lower global oil prices, the Kuwaiti government has intensified efforts to enact reforms aimed at increasing foreign investment, supporting economic diversification and reducing state subsidies.

While low oil prices weighed heavily on many of Dubai’s trading partners and neighbours, the emirate delivered a strong economic performance in 2016, buoyed by growth in key non-hydrocarbons segments, which provided an important buffer against external challenges.

Strong domestic demand and record high foreign investment inflows underpinned the continued rapid growth of the Vietnamese economy in 2016. 

In a bid to satisfy growing demand for power, Tanzania has ramped up investment in alternative energy schemes, with a focus on smoothing regional disparities.