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Mena Focus

Europe’s Woes Threaten MENA's Recovery

  • The weaker economic outlook in the eurozone (EZ) and related risk aversion pose downside risks to MENA growth, directly through trade channels with the Maghreb’s oil importers and investment throughout the region, and indirectly as weaker global growth dampens oil demand.
  • The GCC countries, with their ample reserves and fiscal surpluses, are well positioned to weather the downturn in the EZ, but have the greatest financial linkages to the bloc.
  • Overall, risks to global growth and global oil demand pose the greatest risks to the region’s outlook.

A Patchy Recovery Ahead


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