Economy

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Buoyed by a phased $1.5bn funding pledge from the IMF, Sri Lanka has its sights set on building economic momentum and improving investor sentiment in the coming months.

John Brash: Diversification has been a deliberate policy of GCC governments for some time. The drop in hydrocarbon revenues actually shows this to have been apt and robust. So while the doom-and-gloomers would have us think the region was forced to diversify, it is actually the opposite: a case of foresight being proven. The result is that the GCC has, in the main, been able to ride out the fall in oil prices with typical panache. 

In a bid to help improve inclusive growth and employment, Egypt’s central bank has taken aggressive steps to help expand commercial lending to the country’s small and medium-sized enterprises (SMEs).

A stronger-than-expected performance in the first quarter has prompted analysts to revise their year-end growth forecasts for the Thai economy, though some remained cautious in the face of ongoing challenges both at home and abroad.

New trade and investment agreements are expected to help Trinidad and Tobago offset lower hydrocarbons revenues, while helping the country extend its reach beyond the region.

Reforms aimed at opening up Saudi Arabia to investment and encouraging private sector participation are moving forward, even as further details of the Kingdom’s long-term National Transformation Plan (NTP) have yet to be released.

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