The world bank- MENA economy forecasts (January 2018)

1. THE WORLD BANK – MENA ECONOMY FORECASTS
January 2018

2. GLOBAL COPPER INDUSTRY PERSPECTIVE
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2The World Bank – Middle East and North Africa economy forecasts
Source: World Bank
f = forecast
GDP at market prices and expenditure components are measured in constant 2010 U.S dollars.
Excludes Libya, the Syrian Arab Republic and Yemen due to data limitations.
7%
5%
4%
3%
3%
3%
3%
4%
2% 2% 2%
2% 2%
5%
1%
7%
6%
4%
3% 3% 3%
3%
3% 2%
2%
3%
4%
2% 2%
2%
7%
6%
4%
3%
4%
3%
3%
2%
3%
2%
3%
4%
2%
2%
2%
Djibouti Egypt Iran Morocco Tunisia United Arab
Emirates
Qatar Algeria Jordan Lebanon Oman Kuwait Bahrain Iraq Saudi
Arabia
2018f 2019f 2020f

3. 3MENA: Capital Markets of the fastest growing economies
Source: Stock exchanges
Djibouti is amongst the top 5 growing economies, however it has no stock exchange.
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207
106
71
50
9
136
439
74
264
82
United Arab Emirates Iran Morocco Egypt Tunisia
Market Cap (USD bn) # of securities

4. 4MENA: Capital Market valuations of the fastest growing economies
Source: Stock exchanges, MSCI
Djibouti is amongst the top 5 growing economies, however it has no stock exchange.
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7.4x
11.0x
13.3x
13.9x
17.9x8.8%
1.7%
3.2%
3.7%
4.1%
Iran Egypt United Arab Emirates Tunisia Morocco
P/E(e.) Div. Yield

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Certain economic data and information concerning economic trends contained herein are based on or derived from information provided by or
available at independent third party sources. Griffon Capital believes that such information are fairly accurate and that the sources from which
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JANUARY 2018
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