Growth in MENA: Except for Egypt and Morocco,
almost all MENA countries are growing slowly, but
for different reasons. The GCC countries and Algeria
are suffering from low oil prices and high fiscal
spending. As a whole, GCC economies —Bahrain,
Kuwait, Oman, Qatar, Saudi Arabia and the United
Arab Emirates—are expected to grow at 3.2 percent
in 2015 and the following year, down from 3.9 percent
a year earlier, as low oil prices have severely hit these
economies. For the same reasons, growth in Algeria
is expected to remain at 2.8 percent in 2015.