New MENA Monthly
Will the Iranian regime lose ground as Rouhani loses sway?
Saudi Arabia is on track to reduce its budget deficit to 7% of GDP or less this year from 8.6% in 2017 if oil prices remain at the current average for the rest of 2018.
The newly imposed US sanctions on Iran are heating things up domestically for President Hassan Rouhani and his ministers while oil exports are expected to take a hit.
In Tunisia, resistance to recently proposed social reforms by President Beji Caid Essebsi adds fuel to the secularist versus Islamist divide, which is likely to intensify as the election approaches.
A key deal to watch out for during President Abdel Fattah el-Sisi’s visit to China in September is the renewal of the currency swap agreement worth USD 2.6B with Egypt.
New Country Views
Qatar: Against all odds
One year on, the boycott of Qatar by a group of regional states has not had the detrimental impact on the economy that most envisaged. A drop in non-resident liabilities to banks has reduced the need for further support from the Qatar Central Bank.
Qatar’s recent investment support for Turkey, however, could deepen the GCC rift given the unfolding row between Saudi-backing Washington and Ankara.
Ongoing uncertainty over the GCC’s future is likely to persist. Regional tensions are expected to remain elevated for the foreseeable future.
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