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Mexico: Groundbreaking Energy Sector Reforms

Following decades of an energy sector controlled by the state, we remain confident that the Peña Nieto administration will be able to secure politica

Korea: The Reluctant Rate Cut

Slow growth, low inflation and weak external demand finally prompted the central bank to cut the policy rate after a seven-month hiatus. The latest mo

Brazil: Waiting for the Animal Spirits

A low ratio of investment to GDP is weighing on trend growth. Despite lower interest rates, investors remain in a cautious, wait-and-see mode amid hei

Algeria: Modest Fiscal Consolidation to Start in 2013

The fiscal breakeven oil price increased further to $130/b in 2012, driven by a decline in hydrocarbon output and a large increase in public spending.

Kuwait: Improved Political Climate Could Spur Growth

A new parliament that is less antagonistic toward the government has raised hopes for progress on the development plan. This will boost the nonhydroca

May 2013 Global Economic Monitor

The recent data flow has been marked by two notable contrasts. First, GDP growth has disappointed in emerging markets, but not in mature economies. Se

China: Modernizing the Railways

The reinstatement of the ambitious railway investment program in mid-2012 after the crash of a high-speed passenger train and the resolution of public

Oman: Fiscal Restraint Needed Going Forward

High oil prices and an increase in production pushed the budget surplus up to an estimated 4.2% of GDP in 2012. Expenditure has risen sharply over the

Oman: Using Oil and Gas to Diversify the Economy

An increase in oil and gas production and robust activity in the nonhydrocarbon sector pushed growth to an estimated 7.1% in 2012. The biggest challen

Malaysia: Looking Beyond the National Elections

Although tarnished by opposition allegations of electoral irregularities, as well as the failure to secure a majority of the popular vote, the recent



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