It is well documented that countries relying on hydrocarbons for the bulk of their incomes have been cutting budgets and spending. With a significant proportion of private sector activity contingent on government contracts, we have been assessing the outlook for the next 12 months. We have spoken with 196 business leaders across all GCC countries, and the results show that while there are undoubtedly concerns resulting from the macroeconomic climate, sentiment is far from weak...
Sound macroeconomic policy has allowed Colombia to weather the drop in oil prices, while a peace deal with the FARC has the potential to boost economic growth.
An economic boom driven by a $19bn natural gas project was followed by a sharp slowdown as global energy prices fell, putting pressure on the government to spread more equitable development in this resource-rich country.