LATEST ECONOMIC BRIEFINGS
THAILAND | 05.02.2010
Thailand is looking to overhaul the country's rail network, planning to combine state spending with private sector investments to revamp a system that in recent years has been overtaken by road transport as the economy's primary freight mover.
OMAN | 05.02.2010
Investors will be hoping the steady recovery posted by the Sultanate's equities last year will continue into 2010. Already, early signs of confidence are becoming apparent, with initial public offerings (IPOs) expected to resume shortly and a degree of bullishness prompted by resurgent oil prices.
SAUDI ARABIA | 05.02.2010
As the Gulf Cooperation Council's biggest economy closes the books on 2009, it may well be remembered as a year of caution and mixed fortunes. Economic growth was positive and inflation fell, but lower oil prices caused the state budget to drift into deficit territory. Nevertheless, with the government clearly committed to supporting the economy through stimulatory spending, higher growth is already expected in 2010.
ROMANIA | 04.02.2010
Having been one of the driving forces in the Romanian economy up until the end of 2008, the construction sector has had to take a back seat over the past 12 months, with workers being laid off, many new projects put on the backburner and ongoing developments halted as funding and demand dried up.
LEBANON | 01.02.2010
Lebanon continued to defy the expectations of many in 2009, being able to not only weather the worst of the global financial crisis but also post solid economic gains while undergoing another period of political tension.
COUNTRY COVERAGE
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Oxford Business Group's series of publications are renowned as the leading source of economic information for nearly 30 countries across The Middle East, Africa, Asia, Eastern Europe and the Caribbean.
Available in both print and electronic format, these Reports are the most extensive independent, unbiased and accurate intelligence available anywhere. They are written by a team of analysts who are based on the ground for six months every year and the result of hundreds of interviews making them unrivalled in the market.
LATEST PUBLICATIONS
The Report: Saudi Arabia 2009
Given its strong ties to the global oil market – and thus the overall global economy – it was inevitable that Saudi Arabia would feel the impact of the worldwide economic downturn. Indeed, while 2009 has been by no means a year of straightforward progress, the Kingdom has fared relatively well thanks to its buffer of capital reserves built up over the oil-boom years. Moreover, the government has been proactive in warding off the effects of the global crisis – the 2009 budget was the largest in the country’s history and targeted the development of non-oil sectors crucial to long-term development, such as health and education, as well as the funding of expansive infrastructure projects. The government’s proactive fiscal stance has helped the country to continue on its path towards a more diversified economy and growth is expected to rebound quickly in 2010.
The report: Brunei 2009
The Sultanate of Brunei Darussalam (the Abode of Peace) is located in the north-western coast of Borneo and borders the Malaysian state of Sarawak and the South China Sea. The country’s well-developed hydrocarbons reserves form the backbone of the economy, accounting for 70% of GDP and 78% of exports. Careful management of these resources enables Bruneians to enjoy a standard of living that is among the highest in the world in terms of per capita GDP. As a result, Brunei Darussalam is ranked first in macroeconomic stability by international ranking agencies. To sustain these successes, the nation has recognised the need to diversify the local oil and gas industry and the broader economy as well. The government is using a multifaceted approach to maximise the value of domestic resources and jump-start the country’s industrial base to increase non-hydrocarbons activity and exports.
The Report: Kuwait 2010
For Kuwait – one of the world’s leading oil producers – 2009 was a year of unique challenges, both domestic and international in origin. The sharp decline in oil prices, combined with the credit crunch and an extremely volatile stock market, caused the economy to dramatically slow its previously galloping pace. Meanwhile, political fireworks in the parliament complicated economic issues further as a stimulus bill and a backlog of other important regulatory legislation was held up. But the long-term picture is far from bleak and the bumps of 2009 are largely the product of the global economic crisis. As the world moves towards recovery, Kuwait can expect a swift bounce-back and perhaps greater incentive to sort out its domestic political affairs.
