Middle East and North Africa Economic Outlook: Price Risks Reduced
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After a phenomenal performance last year, the economy of the oil exporters of the region will moderate considerably in 2023. However, growth is still expected to be strong with weaker global performance in the background.
Though oil supply stayed strong as Russia managed to reroute all its oil exports of Western countries, new production cuts by OPEC+ and recovering Chinese demand will not allow prices to fall.
Inflation will decline globally and in the region as energy prices are lower and base effects take their toll.
Global geopolitical tensions will continue to be the major source of uncertainty. During this session, we’ll discuss:
- Global and MENA outlook
- Uncertainties in oil markets decreased
- Inflation declines but more gradually than expected
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SpeakersGaurav Ganguly Head of International Economics Moody's Analytics
Suren Vardanyan Assistant Director - Economist Moody's Analytics
Amir Motahari Economist Moody's Analytics
Catarina Noro Associate Economist Moody's Analytics
Benedict Acton-Bond Associate Economist Moody's
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Dr. Gaurav Ganguly is Head of International Economics at Moody’s Analytics, where he heads economic research for Europe, the Middle East, Africa and Asia-Pacific. His research interests include international economics, geopolitics and climate change. Together with his research group, he focuses on the key risks facing the global economy and the ways in which these might manifest. His economic scenarios, forecasts and analysis are used by financial institutions, governments and companies to actively manage risks. He is a well-known public speaker and frequently comments on economic issues across and appears in the media. Based in London, he has taught at various Universities in the UK and held visiting academic positions, including a research fellowship at the Grantham Institute for Climate Change at Imperial College. Gaurav obtained his Master’s degree and a doctorate in Economics from the University of Oxford.