2021-10-20-牛津经济研究院-MENA_IMF_MENA_outlook,_Oman_ratings,_Saudi_green_plans_4页_247kb

Intermediate Report Output

Summary

• IMF MENA Outlook: The IMF updated its 2021 and 2022 GDP growth forecast for the MENA region from 3.7% and 3.9% to 4.1% and 4.1%, respectively, though the GCC projection of 4.2% in 2022 is less optimistic than some estimates due to potential economic challenges.
• Oman Rating Update: Moody's upgraded Oman's rating outlook to stable from negative, driven by improved oil sector dynamics and fiscal reforms, including a narrowing budget deficit to 4% of GDP.
• Saudi Green Plans: Saudi Arabia is set to unveil its Green Growth strategy in October, amid broader GCC efforts for sustainability, despite challenges like high fossil fuel dependency and slow renewable adoption.
• Key Challenges: IMF highlighted ongoing recovery issues in MENA, emphasizing vaccination progress and macroeconomic policy space, with GCC facing hurdles in transitioning to green initiatives due to their economic structures.