Economy

Structural reforms coupled with solid macroeconomic fundamentals saw Indonesia continue its positive growth trajectory in 2016.

As countries across the GCC faced revenue pressures due a lower oil price environment, Oman balanced reduced public spending with economic diversification efforts to keep growth on a positive trajectory.

El acuerdo de paz recientemente negociado entre el Gobierno de Colombia y las FARC podría propiciar el comienzo de una nueva era para la economía colombiana en cuanto a crecimiento económico se refiere. Sin embargo, aunque el acuerdo entre en vigor, el pago de los dividendos económicos de la paz llevará su tiempo.

A combination of tighter fiscal planning, a gradual increase in hydrocarbons prices and an improved performance by some non-oil sectors saw Brunei Darussalam shake off two years of contraction and lay the foundations for stronger growth in 2017.

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.