GULF COUNTRIES
Analyst
Justin Alexander
Former Economic Advisor, Qatar Finance MinistryDatabanks
Recent Country Insights
GULF WEEKLY: Saudi revises up deficit projection, Kuwait and Bahrain issue bonds, Trump announces Gaza plan and pledges to defend Qatar
GULF COUNTRIES · Report · 03 Oct 2025
A skimmable summary overlaid with our analysis and links. Headlines: * Brent crude dropped by -9% to $64, a four-month low, as another OPEC+ hike is expected. * Saudi Arabia estimates its fiscal deficit will be -5.3% of GDP this year, more than double the budget. * Its fiscal projections see...
BAHRAIN: Deficit expands in H1 ahead of sukuk issuance
GULF COUNTRIES · In Brief · 30 Sep 2025
It's a busy time for Gulf sovereign bond issuance, with $3bn from Abu Dhabi last week, $11.25bn from Kuwait today (see this note) and another UAE emirate expected to issue soon. Next up is Bahrain, with its second issuance of the year, following its $2.5bn bond/sukuk in May. There is some importa...
KUWAIT markets its first dollar bonds since 2017
GULF COUNTRIES · Report · 29 Sep 2025
As Kuwait sells its first Eurobonds since 2017, we review its prospectus and recent fiscal trends. The prospectus, unfortunately, has no new data and does not provide clarification on key topics such as the size of the General Reserve Fund. However, investors may not worry too much about the lack...
GULF WEEKLY: Abu Dhabi bonds, Riyadh rents frozen, Qatar & Oman GDP, UK & France recognize Palestine
GULF COUNTRIES · Report · 26 Sep 2025
A skimmable summary overlaid with our analysis and links. Headlines: *Brent rebounded to $70 on concerns about Russian exports, amidst Ukrainian drone strikes. *Gulf leaders addressed the UN and discussed a new US Gaza plan with Trump. *Ten more countries, including the UK and France, recogn...
GULF WEEKLY: All mirror Fed cuts, Saudi revises inflation basket, Kuwait's population declines
GULF COUNTRIES · Report · 19 Sep 2025
A skimmable summary overlaid with our analysis and links. Headlines: * Gulf central banks all mirrored the US’s -25bp interest rate cut. * The IEA warned that annual field decline is higher than previously estimated, about -5.5m b/d. * Saudi Arabia revised its inflation basket, lifting the w...
GULF WEEKLY: Allies rally around Qatar, OPEC+ hikes production, UAE posts H1 fiscal surplus
GULF COUNTRIES · Report · 12 Sep 2025
A skimmable summary overlaid with our analysis and links. Headlines: * Oil rose despite the decision by OPEC+ to begin tapering the May 2023 voluntary cuts. * Revised compensation plans from Kazakhstan postpone its cuts for overproduction until 2026. * An IMF study found that FDI in the GCC ...
QATAR: Israeli airstrike on Hamas villa in Doha
GULF COUNTRIES · In Brief · 09 Sep 2025
UPDATE: A Qatari security officer was killed. This significantly increases the stakes. Meanwhile, although some Hamas members were killed, the senior leaders were not. At about 4pm local time today, an Israeli airstrike targeted the residence of Hamas's political office in the West Bay Lagoon nei...
GULF WEEKLY: KSA and Bahrain issue sukuk, MBS and MBZ meet, the UAE speaks out against West Bank annexation
GULF COUNTRIES · Report · 05 Sep 2025
A skimmable summary overlaid with our analysis and links. Headlines: * Oil dipped to $65 on rumors that OPEC+ may hike production again at a meeting on Sunday. * The Saudi and Emirati leaders, MBS and MBZ, met in Riyadh to discuss Palestine and bilateral relations. * Trump has offered NY may...
GULF WEEKLY: Kuwait capex cuts narrowed the deficit, UAE plans free trade partnership, UN sanctions on Iran to snap back
GULF COUNTRIES · Report · 29 Aug 2025 · 1 response
A skimmable summary overlaid with our analysis and links. Headlines: * European countries started the process of implementing “snapback” UN sanctions on Iran. * Saudi banks sold $2.25bn in 10-year Tier 2 bonds, one of them green. * Humain broke ground on its first data centers and launched a...