Top Gulf Economies Show What Difference Stimulus Can Make: Chart - Bloomberg:
The two biggest Gulf Arab economies are increasingly out of sync. While business conditions in the United Arab Emirates slumped to the weakest in more than nine years, activity in Saudi Arabia rose at the quickest pace since 2017, according to IHS Markit. The U.A.E. has effectively tightened fiscal policy over the past two years, but “government spending in Saudi Arabia is still the primary engine for that non-oil sector growth,” said Khatija Haque, head of Middle East and North Africa research at Dubai’s biggest bank, Emirates NBD.
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