https://arab.news/ggqe8
Across much of the Western world, economic narratives have become increasingly cautious. Rising public debt and slowing productivity are eroding the chances of medium-term growth in several advanced economies.
In Europe in particular, economic optimism has given way to domestic introspection, with a growing recognition that sustained growth will remain elusive without deep structural reforms and a reset of national economic strategies. At the World Economic Forum Annual Meeting last month, the organization said Europe faces an “annual investment challenge” of €1.2 trillion ($1.4 trillion) to match its ambitions with economic reality.
Business confidence across the Middle East, meanwhile, is at a record high. Almost nine in 10 regional CEOs expressed “exceptional confidence” in economic growth within their own territories, according to PwC’s latest annual “Global CEO Survey,” which was published last month. In the Gulf, CEOs are even more bullish, with 93 percent confident that growth would continue at pace over the near to medium term.
Hani Ashkar, PwC’s Middle East senior partner, said that the survey’s findings “reflect the underlying confidence” of the region’s business ecosystem, with business leaders demonstrating a willingness to look beyond the “short-term volatility” associated with regional geopolitics.
