economies had a positive start to 2023 with a modest increase in PMI’s,
although lower than levels experienced in 2022. It still suggests business
optimism and stable outlook for the year despite uncertainty and global
challenges that remain including high inflation, high interest rates and energy
prices being experienced by developed markets. Higher interest rates are
expected later this month as per US Fed.
inflation and energy prices have eased out which provides relief to consumers
and businesses. Saudi Arabia, UAE and Egypt remain the hot spots for VC funding
this year, based on number of deals and emerging industries such as fintech and
food delivery platforms attracted the most funding.
monthly review as shown below illustrates major economic and financial market
indicators in the GCC region.”