CATEGORY: OBG Business Barometer
Although the global economy is in the midst of some challenging times, 82% of C-level executives who participated in the 2019 Business Barometer: Saudi Arabia CEO Survey believe that the Vision 2030 policy reforms will be successful or very successful in achieving medium- to long-term goals. Furthermore, manufacturing is indicated as the sector most likely to drive non-oil economic growth in the short to medium term, representing 15% of total responses. The optimism is carefully gauged, however, with 65% of business leaders citing regional political volatility as the top external event that could impact the economy.
With the import ban launched in 2016 having coincided with a drop in oil and gas prices, in early 2018 Algeria started to rethink it, with a view to improving the country’s finances and easing a challenging tax situation. In June the Parliament duly approved a measure replacing the ban on certain
products with Customs duties.
While the 2014-17 period saw the effectiveness of the import ban called into question and was marked by a significant drop in oil receipts, recovering commodity prices in 2018 appear to be bolstering both local business sentiment and economic growth prospects. The results of the second OBG Business Barometer: Algeria CEO Survey, gathered through face-to-face interviews with 90 of the country’s top executives, show that the general outlook is optimistic, with 73% expressing positive or very positive expectations of local business conditions in the coming 12 months, up from 61% in the November 2017 edition of the survey.