A week after Russia invaded Ukraine, the economic and political ramifications for Egypt have evolved more rapidly, and comprehensively, than its policymakers would have wished.
With the outbreak of the Russia-Ukraine war on Feb. 24, 2022, Egypt’s food security crisis now poses an existential threat to its economy. The fragile state of Egypt’s food security stems from the agricultural sector’s inability to produce enough cereal grains, especially wheat, and oilseeds to meet even half of the country’s domestic demand.
Egypt, like much of MENA, is experiencing an unprecedented digital transformation. Governments throughout the region are embracing emerging technologies, particularly in governance and, increasingly, financial management. Countries across MENA are adopting ICT strategies, such as the ICT Vision 2030 in Egypt. Egypt’s plan aims to develop a knowledge-based society by means of a strong digital economy built on reliable, affordable, and equitable access to digital tools.
Expert regional analysis by MEI scholars and contributors.
The global LNG landscape is changing, and while Qatar will continue to be a major LNG exporter, it will briefly drop to third in the global rankings until planned expansion projects come on stream in the middle part of the decade. Strategically, Qatari suppliers may opt to change their market supply profile, which will have a knock-on effect on the global market, both LNG suppliers and buyers.
The Arab Gulf states appear to be following a common template in responding to the global transition toward an energy system in which renewables play an increasingly central role. They are publicizing renewable energy targets, decarbonizing upstream and downstream oil and gas operations, commissioning renewable energy projects, and improving energy efficiency, among other strategies. A closer look, however, reveals differences in how they have deployed solar and wind power capacity.
The U.S. request for Qatari assistance in ensuring the EU’s energy security in case of a Russian supply disruption should be perceived as a political gesture of support addressed to Western allies and a warning to Russia. In reality, however, the American request is just one factor in Qatar’s calculations as it considers increasing its energy exports to Europe, and Doha’s final decision will be determined by an intricate combination of long-term economic and political considerations. In this equation political reasons may not be dominant and economic drivers will not always be in the West’s favor.
Expert regional analysis by MEI scholars and contributors.
Look to the people of the region first, then the evolving competition among regional states and global powers, for signs on what to expect.
Long-simmering economic and political tensions between the U.S. and China have continued to spill over into the technology sector, where the two superpowers have made this ever-more vital industry the site of a new Cold War. The acrimony looks poised to only get worse moving forward, potentially leading to a tech decoupling, and 5G is at the heart of it. Some third parties have sought to find a way to navigate this divide and the dilemma is particularly acute for the Gulf states. As they seek to balance their relationships with both Washington and Beijing, several have chosen to stake out their own territory by building an Open Radio Access Network (RAN). This initiative could be a potential solution to the current conundrum that would give states 5G sovereignty in an era of great power competition, with a digital twist.
Read MEI’s weekly briefing featuring expert analysis of key regional developments for the week ahead.
As the countries of the Gulf Cooperation Council (GCC) work to transform from hydrocarbons-driven to data-driven economies, they will need to make significant and well-planned invest-ments in digital infrastructure, particularly when it comes to the complex issue of data govern-ance. They must take the lead in establishing regulatory and legal frameworks aligned with international standards in terms of data gathering, processing, and storing procedures. This report highlights the existing laws and regulations that govern data protection in the GCC while addressing their potential and limitations, along with the similarities and differences between the GCC’s legislative frameworks and the EU’s General Data Protection Regulation, and the impact of the GCC’s current data protection laws on individuals, the private sector, regulators, and governments.
While oil prices have rebounded before soaring since the depths of collapse in the spring of 2020 — with Brent crude prices skyrocketing from $19 per barrel in April 2020 to a three-year high of $86 per barrel in October 2021 — the prospects for a sustained high oil price for Gulf producers is unlikely.
Read MEI’s weekly briefing featuring expert analysis of key regional developments for the week ahead.
Read MEI’s weekly briefing featuring expert analysis of key regional developments for the week ahead.