JEDDAH: Despite the critical ebb and flow in global financial markets these past three years, the Middle East and North Africa (MENA) region has managed to stem the tide and register a tangible GDP growth of 5.3 percent in 2012, Alternative Investment Strategy 2013 report released Sunday through Al Masah Capital Limited, said.
Bearing in mind the eurozone debt crisis, the easing of economic activity in China and a slew of fiscal downturns hitting the US, this is a hugely positive sign, the report, quoted by the Saudi Gazette said.
In 2013, the rate is expected to be even more impressive with many of the MENA countries allocating huge sums for public expenditure as compared to 2012.
Saudi Arabia, Qatar, Kuwait and Oman formed the spearhead of the resurgence, although a leg up was given through the intervention by central banks with their bold and timely monetary policies.
Market trends indicate that fund managers are taking a positive view on MENA equities.
Boosted by high energy prices, GCC governments are continuing to accumulate surpluses and follow their expansionary plans in the physical and human infrastructure, fuelling growth at a rapid pace. This is poised to translate into a rise in corporate earnings.
Analysts are unanimous over the rebounding of the real estate market. It is the prime indicator that things are looking up significantly. Al Masah states the real estate market in Qatar was relatively better placed than other GCC countries. (QNA)
