Name: Why oil-producing economies need to diversify
Brand: Wood Mackenzie
SKU: 93776
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Author: Wood Mackenzie

Insight 18 September 2018

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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The oil price recovery above US$70/bbl is a relief for oil-producing economies of the Middle East and Africa. After cutting expenditures hard in 2015 and 2016, the price rally will improve fiscal balances greatly, some returning to surplus this year.  While immediate fiscal pressure is easing on oil-producing economies, the long-term challenges haven't gone away. Oil industries alone cannot support economic growth and government finances over the longer term. If oil economies remain as dependent on oil production for government revenue as they are today, there could be trouble ahead. Economic diversification can generate new sources of revenue. In this Insight, we assess the prospects for diversification in Saudi Arabia, Iran, Iraq, Nigeria, the UAE, Kuwait and Angola.  </div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        Introduction
    </li>

<li class="list__item-toggle font-semibold">
        Steadying the ship: fiscal positions improve
    </li>

<li class="list__item-toggle">
        <a href="#b224b4c9-b2ac-4415-b3a8-4d10623efec6" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="b224b4c9-b2ac-4415-b3a8-4d10623efec6" aria-expanded="false">
            In pursuit of fiscal sustainability
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        <ul id="b224b4c9-b2ac-4415-b3a8-4d10623efec6" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Share the financial burden
    </li>

</ul>
    </li>

<li class="list__item-toggle font-semibold">
        Risks of not diversifying
    </li>

<li class="list__item-toggle font-semibold">
        Who can make a success of diversifying?
    </li>

<li class="list__item-toggle font-semibold">
        Conclusion
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<h3 class="alpha push-half--bottom">Tables and charts</h3>

<p class="push-half--bottom">This report includes the following images and tables:</p>

<ul class="list list--bullets">
         <li class="list__item push-quarter--bottom">Government hydrocarbon revenues</li><li class="list__item push-quarter--bottom">Government spending index</li><li class="list__item push-quarter--bottom">Oil supply surge curtailed after OPEC agreement</li>
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        <ul class="list list--bullets panel-toggle" id="12b6dbea7f634c42b7d9635eda7d4531">
            <li class="list__item push-quarter--bottom">Fiscal breakevens have converged but will increase to 2022</li><li class="list__item push-quarter--bottom">Big improvement in fiscal balances in 2018</li><li class="list__item push-quarter--bottom">Oil revenue vs GDP</li><li class="list__item push-quarter--bottom">Demographics</li><li class="list__item push-quarter--bottom">Female participation rates</li><li class="list__item push-quarter--bottom">International bond issuance in US dollars</li><li class="list__item push-quarter--bottom">Financial reserve assets (inc. sovereign wealth funds)</li><li class="list__item push-quarter--bottom">Debt as % of government revenue</li><li class="list__item push-quarter--bottom">Key factors influencing diversification</li>
        </ul>
        
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<h3 class="alpha push-half--bottom ">What's included</h3>
<p class="push-half--bottom ">This report contains:</p>
<ul class="list"><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Why oil-producing economies need to diversify</p>
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