Page 16 - DMEA Week 45 2022

DMEA NEWS IN BRIEF DMEA

business new europe bne/IntelliNews

“The current situation is due to the mandate benefiting from high prices and robust non-oil the transportation of LNG from Egyptian facil-
of the currency market. Liquidity should be GDP growth with their economies expected to ities to the German market. These include the
directed correctly, but unfortunately, we do not grow at 5.2% in 2022, but their performance is injection of investments as well as joint imple-
direct liquidity correctly and the market deter- being partly offset by the negative impact of high mentation of transportation and distribution
mines the price,” she added. food prices and rising global interest rates. projects.
Mahmoudi also said: “There is a lot of liquid- Non-oil exporting countries’ real GDP is The second declaration of intent pertains to
ity and stray money in the country. People are forecast at 4.9% in part reflecting a strong- cooperation in the production, transportation
afraid that the value of the rial will decrease, so er-than-expected performance for Egypt during and distribution of green energy – specifically,
they go over to foreign currency or gold.” fiscal year 2022, as base effects from solid out- green hydrogen.
bne/November 8 2022 turns in the first half of the fiscal year more than The parties agreed to promote the use of Ger-
offset the negative impact of the terms-of-trade man technologies in green hydrogen production
Iran claims intercept of shock, tighter global financial conditions, and projects in Egypt as well as the development of
the infrastructure needed for the import of green
weaker partner demand in the second half.
intelligence equipment to moderate to 3.5% in 2023 as OPEC+ pro- bna/November 7 2022
Growth in oil-exporting countries is expected hydrogen in Germany.
sent from Saudi Arabia duction increases wane, oil prices decline, and
global demand slows. The IMF projects non-oil
A cargo consignment sent from Saudi Arabia exporting MENA countries’ growth to decline to UN representative calls
containing money and intelligence equipment 3.9% reflecting lower growth in Egypt and Tuni- for immediate Libyan
for protesters taking part in the nationwide sia amid weakening global demand and tighter
unrest that has hit Iran was intercepted by Ira- financial conditions. dialogue for elections
nian special services, Iran’s army commander, bne/November 4 2022
Major General Abdulrahim Mousavi, claimed The head of the UN Support Mission in Libya,
on November 7 at a press conference. Egypt, Germany ink Abdoulaye Bathily, has called on Libyans to par-
Amid the protests and recent terror attacks in ticipate in an immediate national dialogue to
Iran, Iranian officials have directed many sharp declarations of intent to unify their demands and push the country to get
words at Saudi Arabia, a regional arch-rival with out of the political stalemate, he said in a press
which Tehran is engaged in a cold war in the boost cooperation in gas, statement on November 5.
shadows. Bathily urged Libyan parties to openly dis-
On October 9, Mousavi also directed his ire green hydrogen sectors cuss the political, military, and economic tracks.
at two other foes of Iran, accusing Israel and the Last week, the UN Security Council voted
US of organising some of the protests. “The key The Egyptian and German governments have to extend the UNSMIL mission for a year and
strategy of Iran’s enemies is to split the nation signed two declarations of intent to strengthen urged main institutions and parties in the war-
and destroy the capacity to resist,” he said. cooperation in the fields of green and transi- torn country to agree on a roadmap to conclude
Saudi Arabia last week shared intelligence tional energy with the goal of achieving envi- presidential and parliamentary elections as soon
with the US that it said suggested Iran was pre- ronmental sustainability. as possible.
paring for an imminent attack on the Kingdom, The agreements, signed a few hours before On October 25, Bathily said in his first brief-
three US officials disclosed, The Associated Press the opening of the year’s COP27 climate summit ing to the Security Council, said the situation
reported on November 4. in Sharm El-Sheikh, promise to support bilateral calls for a consensus state re-legitimation pro-
“We are concerned about the threat picture, relations and cooperation with the private sector cess to meet the needs of the Libyan people. He
and we remain in constant contact through mil- to speed up and promote energy production. emphasized that legislative and presidential elec-
itary and intelligence channels with the Saudis,” The first declaration of intent aims to foster tions are essential.
the US National Security Council said in a state- partnerships in the production of natural gas as a Libya has suffered from persistent struggles
ment. “We will not hesitate to act in the defence transition fuel and developing infrastructure for since the popular upswing in 2011.
of our interests and partners in the region.”
bne/November 8 2022
IMF sees MENA region

economic growth
decelerating next year

following robust 2022

The International Monetary Fund (IMF) pro-
jects real GDP growth for the Middle East and
North Africa (MENA) region to reach 5% in
2022 before decelerating to 3.6% next year, the
funds says in its latest MENA Regional Eco-
nomic Outlook report.
Oil exporters in the region are currently

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