The growth dynamics of the Middle East and Africa (MENA) region is divergent as oil exporters benefit from strong fuel prices and strong government backing, while the non-oil exporters face a more challenging fiscal reality this year, Standard Chartered Bank said in its recent review titled “A Region in Flux”.
Countries which have financial and physical resources and are backed by governments willing and able to implement spending and investment plans are outperforming the others in 2013. The UAE and Saudi Arabia are clear leaders in this regard, it noted.
Others in MENA region still have a long road ahead as attracting inward investment will be a major challenge in the long run, but in order for this to happen, reforms of existing fiscal, subsidy and legal systems need to be undertaken, said the report.
Read more: http://www.saudigazette.com.sa/index.cfmmethod=home.regcon&contentid=20130318157312
Countries which have financial and physical resources and are backed by governments willing and able to implement spending and investment plans are outperforming the others in 2013. The UAE and Saudi Arabia are clear leaders in this regard, it noted.
Others in MENA region still have a long road ahead as attracting inward investment will be a major challenge in the long run, but in order for this to happen, reforms of existing fiscal, subsidy and legal systems need to be undertaken, said the report.
Read more: http://www.saudigazette.com.sa/index.cfmmethod=home.regcon&contentid=20130318157312
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