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 EMEA Economics Moody's
Suren Vardanyan Assistant Director - Economist Moody's
Amir Motahari Economist Moody's Analytics
Catarina Noro Associate Economist Moody's
Benedict Acton-Bond Associate Economist Moody's Analytics
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Dr. Gaurav Ganguly is the Chief European Economist and Head of the Climate Change Group at Moodys Analytics. Gaurav is an expert on a number of international economies having spent several years analysing and commenting on countries across Europe, Asia and the Americas. Gaurav has previously worked in financial services, consulting and audit. He was a research fellow at the Grantham Institute for Climate Change at Imperial College in London, where he developed a framework for using climate scenarios within financial institutions. He currently teaches Environmental Economics at Imperial College. He did his PhD in Economics from the University of Oxford.