A report issued by the British "The Economist Intelligence", on its expectations for the economic and financial conditions in the Middle East for the next year 2022, showed that the Middle East will remain a very complex place for international business interests, but it will remain a strongly attractive place for those interests to be active and invest in.
The report showed that there is inequality among the countries of the region in the fight against the Coronavirus, and its repercussions on the investment climate in the region. While the oil-rich countries in the Gulf Cooperation Council recorded high rates of vaccination for their citizens (up to 70 percent), most countries in the region still suffer from the lack of sufficient vaccines on the one hand, and the slowness in their administration on the other hand.
The report expected an increase in the momentum of economic recovery next year, which will enable a good number of countries in the region to compensate for the losses they incurred due to the pandemic, with the exception of crisis countries such as Iraq, Lebanon, Syria, Palestine and Yemen. The recovery of oil and gas prices will play a key role in stimulating recovery, with expectations that the average of these prices will reach about $70 a barrel, which will ease budget pressures for oil-producing and exporting countries and help stimulate investments.
Source (Al-Rai Newspaper-Kuwait, Edited)
