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Latest Development: Indonesia held general elections on February 14 2024, to elect a new president and vice president, as well as members of the People's Consultative Assembly (MPR), which includes the House of Representatives (DPR) and the Regional Representative Council (DPD). Additionally, local legislative bodies at the provincial and city

Key View

• GCC markets will need to promote a more conducive R&D environment to ensure a sustainable pharmaceutical sector.
• A greater focus on biotechnology will be necessary to build a self-sufficient sector and lower import reliance for innovative therapies.
• Due to deficiencies in R&D and specialised human capital, we remain cautious over

Key View

• The worse than expected contraction in Q423 Israeli GDP (-5.2% q-o-q) was a clear indication of the extent to which the war with Hamas disrupted domestic activity. 
• The magnitude of the Q4 contraction automatically subtracts 3.6 percentage points from the 2024 average and even though we look for some normalisation during the year, we

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• Qatar’s healthcare expenditure will increase at a mid single-digit rate over the medium term supported by the government’s growing commitment to the sector. 
• Budgetary allocations for infrastructure development plans in 2024, particularly within secondary and tertiary care, will lead to a rise in hospitals over the medium term.
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Key View

• We expect that real GDP growth in Mozambique will slow from a preliminary 5.0% in 2023 to 4.3% in 2024, after growth eased to 5.4% y-o-y in Q423, from 5.9% in Q323.
• Net exports will deteriorate as gas output stagnates, while weakening farmer incomes and fiscal consolidation will cap consumption growth.
• Investment in the gas sector

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• The UAE is forecast to have lower inflation and cost of borrowing which will bode well for real consumer spending in 2024, as well as an expanding youthful population. 
• The Central Bank of the UAE will continue to follow the US tightening cycle, holding base rate at 5.40% until at least H124, before gradually cutting the rate by

Key View

• We forecast that real GDP growth in Liberia will accelerate to 5.7% in 2024, from an estimated 3.7% in 2023.
• This will be driven by rebounding private consumption and export growth, as disinflation provides tailwinds to household expenditure and as positive developments in the mining industry bolster production and investment.
• A

Key View 

• We expect low single-digit growth in UK health expenditure to 2028, driven by the private sector. 
• A change in leadership in the 2024 election could lead to an increase in public health expenditure, as we expect a Labour Party win. 
• Digital health will remain at the forefront of priorities for the NHS, in order to improve system

The Latest: On January 28 2024, Burkina Faso Mali and Niger —collectively known as the Alliance des États du Sahel (AES) —formally declared their intention to exit the Economic Community of West African States (ECOWAS). Formed as a mutual defense pact following a coup in Niger and ensuing military threats from ECOWAS, the AES was established in

Key View: Our outlook for Ireland's electric vehicle (EV) market in 2024 is robust. We forecast total EV sales to grow by 15.7% y-o-y to 38,400 units, implying an increase in the local EV penetration rate to 29.5%. Moreover, the arrival of new attractively priced EV models and the expected price parity between EVs and internal combustion engine