MENA | Dubai 2040: GCC inflation: Lebanon to cut subsidies

The Dubai 2040 Urban Master Plan announced earlier this week aims to chart course for the emirate’s development as competition in the Gulf increases. It is consistent with the UAE’s vision for growth that is centred around openness to, and retention of, foreign capital and talent.

What you will learn:

  • Saudi Arabia’s inflation eased to 5.2% y/y in February, the lowest since the tripling of VAT to 15% in July last year, with prices edging down modestly from January. We continue to expect Saudi inflation to slip below 2% in H2 as the base effect from the tax increase fades.
  • Oman and Qatar remain stuck in deflation.
  •  In Lebanon, the economic malaise continues to deepen, with the LBP having lost almost 90% in value since late-2019, feeding hyperinflation. The planned removal of subsidies will fuel inflation further.

Topics: Economic development, Inflation, MENA, Lebanon, Dubai

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