HSBC economists positive about economic outlook for the Middle East

HSBC economists positive about economic outlook for the Middle East

Kuwait City: The annual HSBC Economist Roadshow has arrived in the Middle East with an optimistic forecast for the region’s economic outlook in 2023 and expectations that the Gulf nations are on course to deliver some of the strongest growth in the world in 2022.

The HSBC team forecasts economic growth of 6.5% in 2022 for the economies of the Gulf Cooperation Council (GCC), making this one of the strongest performing regions of the world this year, and delivering their strongest growth in at least a decade.

For 2023, the HSBC team forecasts GCC growth of 5%. In Kuwait, GDP growth of 7.2% is forecast for 2022 and 2.6% in 2023.

“Our expert economic analysis team always provide actionable insights and perspectives especially in a time when conditions in the global economy are raising many questions about the outlook for growth, inflation and investment,” said Samer Alabed, CEO of HSBC in Kuwait.

More than 175 clients and business leaders in Kuwait City attended the presentations made by the HSBC economics team, made up of Simon Williams, Chief Economist, CEEMEA, James Pomeroy, Senior Global Economist and Dominic Bunning, Head of FX Research in Europe.

They discussed the global and regional trends shaping the Middle East’s economies