The economy of Kuwait has long been underpinned by the production and export of crude oil. Although the rise in energy prices in 2021-22 boosted government revenue and macroeconomic stability, the Covid-19 pandemic, which preceded the commodity price boom, underscored the risk of over-reliance on an industry subject to fluctuating global demand. This has created fresh impetus for economic diversification, with robust public finances providing a strong platform to...
Saudi Arabia has undergone significant reforms to foster growth and diversification. While some initiatives were delayed during the Covid-19 pandemic, progress in areas such as the digital economy accelerated. Aided by elevated oil prices in 2022, strategies underlined in Vision 2030 continue moving forwards, and the Kingdom today presents ample opportunities for foreign investors, underpinned by efforts to boost private sector participation in the economy.
After achieving a region-leading economic recovery in the decade since political stability was established, future growth and industrialisation strategy will continue to be shaped by the National Development Plan 2021-25, which constitutes a holistic approach to achieving emerging market status and meaningful poverty reduction by 2030.
After weathering a series of global and regional challenges in recent years, Bahrain is emerging from the Covid-19 pandemic with strong growth, rising government revenue and a new plan for the future economy. As energy and tourism earnings recover, the kingdom aims to generate sustainable long-term growth opportunities through new sector strategies and transformational infrastructure projects.
Located at the geographic centre of the MENA region, Egypt has a well-documented history that has seen it accumulate knowledge and wealth over millennia. Egypt proved resilient during the Covid-19 pandemic: it was the only country in the MENA region to record positive GDP growth in 2020. Its economy has been widely driven by the execution of Egypt Vision 2030. This plan notably aims to increase annual GDP to 12% in 2030.
Qatar is leveraging its resources to become a knowledge-based, diversified economy fuelled by a dynamic private sector. As such, the country is investing in strategic areas such as agriculture, services, and research and development to further move the economy away from its dependence on hydrocarbons and attract greater foreign direct investment.