Annual Report of the Union of Arab Chambers No. (16) - Global & Arab Economic Prospects for 2023: Difficult Questions in View of the Inflationary Stagnation

  • 1 January - 31 December 2023

The new World Economic Outlook Report poses pivotal questions about the trends that should be monitored in 2023, in light of the emergence of new and different crises from the past, especially due to the unprecedented rises in food and commodity prices. The report deals with the impact of transformations on the Arab economies that follow different and divergent paths, whether with regard to sectoral development or with regard to digital transformation. It also deals with the impact of climate change on the Arab region, which will be one of the most suffering regions of the world.

In general, investors will continue to diversify their investments away from China to avoid potential disruptions in the supply chain due to the continued outbreak of the COVID-19 pandemic and its variants or to shortages of personnel and supplies. New industries will emerge that generate job opportunities and added value. Electronic mobility is on a very fast path, and hydrogen is entering the broader field of renewable energy generation.

A number of Arab countries, especially oil-producing and exporting countries, will benefit from the rise in oil prices in global markets, and from the strong reform cycle that took place in most of them, to achieve an important economic and investment momentum in the year 2023.



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