Middle East economy remains robust, despite oil cuts and geopolitical turbulence, according to PwC’s Economy Watch

• The extension of OPEC+ production cuts to Q2 this year will have a negative impact on the performance of oil GDP in Oman, Bahrain, and Saudi Arabia.
• However, growth in the non-oil sector is expected to remain robust, driven by continued public and private sector investment in non-oil activities.
• Disruption in the Red Sea has revived discussions on alternative routes.
• Issuance of green bonds and sukuk in the Middle East doubled to $24bn in 2023.