Ground Truth Briefing | The Middle East on Lockdown: The Impact of COVID-19 on Regional Economies

The COVID-19 pandemic has driven most of the world to shut borders, close businesses, and impose lockdowns on citizen movement to mitigate the spread of the novel virus. In the Middle East and North Africa, many countries shuttered businesses and banned public gatherings accompanied by strict curfews enforced by police or national militaries. Oil and Gas producing countries such as Saudi Arabia, Qatar and the UAE injected billions into their economies to ease the economic fallout. However, resource-scarce countries already suffering from economic fragility also took measures to support small and medium-sized enterprises which make up the backbone of their private sectors. With the world heading into a deep recession, the economic future of the region is indeed dire. This will likely reignite political tensions that are temporarily subdued by the lockdown and will drive a renew wave of unrest across the region.

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