Video | 13 Jun 2024
MENA – Egypt’s inflation easing to 28.1%
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Scott Livermore
Chief Economist, Oxford Economics Middle East, and Managing Director
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GCC: Growth momentum poised to continue despite extended OPEC+ production cuts
Ongoing reform efforts have elevated non-energy sectors as the main drivers of GCC economic expansion. Our projections show an improving growth trajectory in H2 and next year, while inflation remains low. We are not too concerned about the drag on activity from oil output cuts, but they weigh on public finances, necessitating greater realism on spending plans, especially in Saudi Arabia.
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Middle East: Non-energy sectors on track to power 2024 recovery
The negative impact of oil output cuts on the GCC outlook looks set to extend into 2024. However, growth will improve on this year thanks to thriving non-energy sectors. We outline reasons for optimism against the backdrop of domestic and external headwinds.
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GCC: Key themes shaping city economies in the near term
For Gulf cities, the near-term outlook will be tied not only to the global macroeconomic backdrop, but also the progress of the diverse visions and strategies in the region. With the aim to diversify their economies and reduce the dependence on oil, Gulf states continue to invest in the non-oil economy and implement various reforms. That said, oil revenues remain key to funding diversification efforts.
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Iran-Israel tensions should dissipate after latest flare up
The military escalation between Iran and Israel has ratcheted up fears of an expanded Middle East conflict. The threat of counter strikes by Israel is clearly heightened, but we think both sides will ultimately seek to avoid a costly all-out war.
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Matthew Pritchard
Head of Business Development, Middle East
+971 50 867 3560
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Matthew Pritchard
Head of Business Development, Middle East
Dubai, United Arab Emirates
Matthew heads-up the subscriptions sales team in the Middle East and is responsible for strategic and commercial activities across the region. He joined the team in 2021 and is based in our Dubai office. Prior to joining Oxford Economics, Matthew was a Sales Director at Fitch Solutions covering business development across the Middle East having moved to Dubai from London to help set-up their UAE office in 2015. Matthew holds a Master’s degree in Management (with a speciality in International Business) and a Batchelor’s degree in Philosophy, both from the University of Sheffield.
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Scott Livermore
Chief Economist, Oxford Economics Middle East, and Managing Director
+971 504 039 455
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Scott Livermore
Chief Economist, Oxford Economics Middle East, and Managing Director
London, United Kingdom
Scott Livermore is the Chief Economist of Oxford Economics Middle East and based in Oxford’s Dubai office. He is also Managing Director of Consultancy in the Middle East and Asia, as well as a member of Oxford Economics’ Senior Management Team. Scott leads many of the major projects in the GCC and Asia which have recently included capacity building, macroeconomic modelling, and policy impact assessment engagements for government institutions in the UAE, Saudi Arabia, Kuwait, and Oman, and IFRS 9 and Stress Testing engagements in Singapore, Thailand, and Hong Kong.
After completing a degree in Philosophy, Politics and Economics at St. Edmund Hall, Oxford University, and an MSc in Economics at University College London, Scott joined Oxford Economic Forecasting in 1997. During his initial five years at OEF, he worked as a country analyst for a number of European countries and participated in numerous consultancy projects for a variety of international organisations, governments and multinational companies using both Oxford Economics’ Global Economic Model and bespoke economic models.
Scott rejoined Oxford Economics in 2005 as a senior economist after spending two years at the Ministry of Finance in the Slovak Republic assisting with the government’s medium-term macroeconomic framework and developing the analytical capacity of the ministry to prepare such forecasts. He has also held the positions of Managing Director of Macro and Industry Services, Managing Director of Macro Consulting, and COO of Oxford Economics USA.
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