Decoding the Future of MENA Financial Markets

MENA Market Lab

Decoding the future of Middle East and North Africa Financial markets

Decoding the Future of MENA Financial Markets, MENA Market Lab

Denis Collot

Cross Asset Strategy

Multiple Countries / Cross Asset Strategy

<ul>
<li>Saudi Arabia: price of the war, official data is showing GDP declining by 4.9 % in Q2 from Q1.</li>
<li>The fall was driven by a 21.5 % drop in oil activities. A 0.5 % surge in non-oil activities is not enough to lift numbers.</li>
<li>Government activities were up 0.5 % on the period. GASTAT, Saudi’s official statistic office , reported in June GDP up 3 % y/y at the end of Q1.</li>
</ul>


Saudi Arabia: price of the war, official data is showing GDP declining by 4.9 % in Q2 from Q1.
The fall was driven by a 21.5 % drop in oil activities. A 0.5 % surge in non-oil activities is not enough to lift numbers.
Government activities were up 0.5 % on the period. GASTAT, Saudi’s official statistic office , reported in June GDP up 3 % y/y at the end of Q1.


Kuwait International Sovereign Bond (KUWIB GOVT)

Middle East FX: July 31st 2026