External Publications
2019

The importance of economic diversification in the Middle East


Authors: Simone Tagliapietra
Published in: Financial Times
Date: 30/10/2019

Abstract

The recent attacks on Saudi Arabia’s oil facilities have highlighted the role of the world’s largest oil exporter and of the overall Middle East as cornerstones of global energy. They also underlined the persistent risk of volatility in oil prices and the importance of economic diversification in the Middle Eastern petrostates to cover the large budget deficits caused by falling export revenues and to create non-oil jobs. In the region’s various diversification plans, the development of SMEs has a central role to play. But for SMEs to develop in the Middle East, its financial sectors must change. There are two possible and complementary approaches to unlock financing for SMEs in Middle Eastern petrostates. The first concerns the development of the domestic banking sector, the second concerns sovereign wealth funds (SWFs).

links
Link
The importance of economic diversification in the Middle East

FEEM Newsletter & Update

Subscribe to stay connected.

Your personal data will be processed by Fondazione Eni Enrico Mattei. – data Controller – with the aim of emailing the FEEM newsletter & Update. The use of Your email address is necessary for the implementation of the newsletter service. You are invited to read the Privacy Policy in order to obtain additional information about the protection of Your rights.

This Website uses technical cookies and cookie analytics, as well as “third party” profiling cookies.
If you close this banner or you decide to continue navigating on this Website, you express consent to the use of cookies. If you need additional information or you wish to express selective choices on the use of cookies, please refer to the   Cookie PolicyI agree