For many, it represents an opportunity to reset. Notably, the sector’s total investment amount of $250bn is the highest of all energy sectors – with an estimated $93bn and $157bn in committed and planned projects, respectively, over the next five years. Voluntary cuts to oil production are responsible for this downward revision from 1.5% in April, as well as intensifying global economic headwinds and the marked shrinkage of Iran’s economy because of … India, MENA, and most Latin American countries suffered the most. 15/04/2021 | worldsteel Short Range Outlook 2021 Benefitting from the global economic recovery and with renewed government infrastructure initiatives, steel demand in the developing economies is expected to show a relatively quick rebound in 2021 and 2022, with growth of 10.2% and 5.2% respectively. Global trade growth is expected to rebound by 7-8% in 2021, after a contraction of similar size in 2020. In this panel discussion moderated by CNN Business’ John Defterios, speakers will discuss these issues and more from the IMF’s April 2021 Regional Economic Outlook (REO) Update: Middle East and Central Asia. Mena lenders trudge into tougher year. 13.01.2019. International & MENA . LogiSYM MENA 2021 Speakers; LogiSYM MENA 2021 Conference Agenda; LogiSYM Asia Pacific 2021. Total committed and planned investments in MENA oil, gas, power and petrochemicals will be $805 billion for 2021-2025, up $13 billion from last year's five-year outlook, APICORP said. The total for power will be $250 billion, with renewables making up 40% even as Saudi Arabia, the UAE and Oman may fall short of targets, APICORP said. After economic downturns in 2020, advanced markets as a group see growth rebounding by 3.9% in 2021, after a 5.0% decline in 2020. Download. ... Economics. Prospects for global trade in 2021 are good, following a revival of trade growth in the second half of last year. The outlook for growth in MENA has been lowered to 0.6% in 2019. Global economy is projected to grow 5.5 per cent in 2021 and 4.2 per cent in 2022. The International Monetary Fund (IMF) said in its April regional economic outlook that it expects the GDP for the Middle East and North Africa (MENA) region to reach 4% in 2021 … As of April, Euromonitor International projects global real GDP growth of 5.9% in 2021 (a 0.8 percentage point upgrade since January) and 4.2% in 2022 (a 0.3 percentage point upgrade since January). In its MENA Energy Investment Outlook 2021-2025, APICORP attributed this modest rise to four factors, namely the strong confidence in the rebound of global GDP, rising energy demand, the comeback of Libyan projects – which alone account for around $10 billion in planned projects – and the accelerated pace of renewables in the region. Power investments Power investments in MENA for 2021-25 remain largely unaffected compared to APICORP’s 2020-24 outlook. Egypt is the only country in the MENA region that will not witness an economic recession over 2020 and 2021, head of MENA Country Risk at Fitch Solutions Andrine Skjelland told Ahram Online. This compared to a forecast of contraction of 5% in its October Regional Economic Outlook. After the Covid-19 pandemic sent a shockwave to the global economy, we are looking at new hope as economies are gradually reopening. Countries of the Middle East and Central Asia region have been hit by two large and reinforcing shocks, resulting in significantly weaker growth projections in 2020. Economic Snapshot for MENA. Per current estimates, MENA will add 3GW of installed solar power capacity in 2021 alone – double that of 2020 – and 20GW over the next five years. Regional equities and listings hit by coronavirus slump Download. The MENA region will start to post robust recovery in 2021, but this will not be all-encompassing. The geopolitical situation, with 2021 marking a decade since the Arab Spring created the popular desire to change the established order in the MENA region. With global bond yields having fallen to levels not seen in almost a decade and the amount of negative yielding debt reaching new records, bonds in the MENA region offer attractive risk-adjusted returns in 2021. The pandemic still dominates the global economic outlook heading into 2021. Source: Stratas Advisors, April 2021. In addition to the devastating toll on human health, the COVID-19 pandemic and the plunge in oil prices are causing economic turmoil in the region, with fragile and conflict affected states particularly hard-hit given … The COVID-19 epidemic will continue to constrict national GDPs and as vaccinations accelerate, countries will be looking beyond survival to recovery. 23.07.2018. Related Fitch Ratings Content: Fitch Ratings 2021 Outlook: Middle East and North Africa Sovereigns Fitch Ratings-Hong Kong/London-08 December 2020: The economic recovery in the Middle East and North Africa (MENA) will be dampened by a weak oil demand outlook and fiscal consolidation efforts after a sharp rise in debt in 2020, Fitch Ratings says. The real GDP growth of the GCC countries is forecast to stand at 2.7% in 2021 and 3.8% in 2022, according to the IMF's report "Regional Economic Outlook for the Middle East and … MENA real GDP growth is predicted by MEED at 1.3% for 2019 and with an estimated growth of 3.2% for 2020. Emirates NBD Research provides detailed coverage of 16 GCC and MENA economies, analysing them from a top down macro and strategic perspective as well as by a bottom up sector by sector approach. The economic consequences of the Covid-19 pandemic have been severe for all countries around the world. COVID-19 has accelerated the shift towards digital revenues, requiring companies to change their business models to capture the growth in on-demand content. Real GDP growth is expected to slow to 3% in 2021 because of continued weakness in net exports, mainly tourism receipts. The Middle East and North Africa data center market by investment is expected to grow at a CAGR of 7.81% during the period spanning 2020-2026. The post-COVID regional economy will lag the global recovery, according to the IMF World Economic Outlook. Benefitting from the global economic recovery and with renewed government infrastructure initiatives, steel demand in the developing economies is expected to show a relatively quick rebound in 2021 and 2022, with growth of 10.2% and 5.2% respectively. April 11, 2021 Regional Economic Outlook: Arising from the Pandemic: Building Forward Better Description: A year into the coronavirus (COVID-19) pandemic, the race between vaccine and virus entered a new phase in the Middle East and Central Asia region, and the path to recovery in 2021 is expected to be long and divergent. The region’s economic forecasts suggest that commodity prices and exports will drive the rebound expected for most MENA countries in 2021. 2.41 mb Weekly Economic and Markets Review. By contrast, committed investments dipped by $7.7 billion to around $12.5 billion due to the completion of several mega projects in 2020. Notably, the sector’s total investment amount of USD250 bn is the highest of all energy sectors – with an estimated USD93 bn and USD157 bn in committed and planned projects, respectively, over the next five years. That said, a severe decrease in near-term corporate profitability should not alter the long-term prospects for larger corporations that can absorb the current shock. The United Arab Emirates’ (UAE) Foreign Investment Attraction Outlook for 2020/2021 Overview of the UAE’s response to the pandemic. To stimulate economic activity, the bank of Egypt cut the overnight lending rate by 300 basis points on 16 March 2020, another 50 basis points on 24 September, and to 9.25% on 12 November. The main risks faced by MENA growth is the expected slowdown of the region’s largest … Prospects for global trade in 2021 are good, following a revival of trade growth in the second half of last year. The outlook for the title segment had been revised to Negative from Stable on April 7, 2020, prompted by the sudden and substantial economic slowdown in the US as a result of the pandemic. April 24, 2021 SHARE Dubai's property sector is beginning to reap rewards of the UAE's successful vaccination rate with real estate prices rising in the first quarter of 2021 and stabilising for the first time in five years, according to Tellimer Research. Includes transactions with estimated values. Frontier And MENA 2021 Outlook: A New Era Of Investment. Download. And after a sharp contraction in GDP, a recovery of sorts is forecast for the global economy and for the MENA region in 2021.
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