Algeria is a key producer of hydrocarbons in Africa, ranking first in gas output and among the top three for oil. It depends on the sector for the majority of government revenue and nearly all exports. Despite reforms to encourage private sector development, promote diversification and attract FDI, the state plays a preponderant role, meaning that changes to government expenditure and investment continue to have a large impact on economic performance.
Higher energy prices and strong increases in gas output helped return Oman’s economy to growth in 2018, with expansion forecast to accelerate in the coming year.
Kuwait’s economy returned to growth in 2018, with higher input from the non-oil sector and increased government investment combining to drive expansion, while reforms to the capital markets and banking sectors should attract further inflows moving forward.
A rebound in agriculture and a return to political stability have helped strengthen the momentum of Kenya’s economy in 2018, with the rollout of large infrastructure projects expected to see this growth continue in the medium term.
Strong gains by the non-oil and gas sector underpinned solid growth in Qatar’s economy in 2018, laying the foundations for further expansion as the country works to mitigate the fallout from the regional blockade and step up efforts to diversify its economy.
After two years of contraction, the Trinidad & Tobago economy is expected to have returned to growth in 2018, fuelled by increased energy sector returns and a recovery in strategic non-hydrocarbons sectors, including manufacturing and insurance.
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