The Banker: Jeff Youssef On The Challenges Facing Economies In The Middle East In 2020
November 21, 2019
Jeff Youssef, a Partner within Public Sector, participated in a panel on Middle East Insight 2020, a part of a video series by The Banker to discuss the challenges facing economies in the Middle East in 2020. The discussion revolves around steps the governments are taking to diversify their economies, and in particular the role that fintechs and SMEs will play in boosting economic growth in the region. Jeff drew upon key data from our recent POV on Private Investment Is Key To Unlocking Long-Term Capital For Gulf Infrastructure to highlight the importance of private sector investment in infrastructure development.
Key messages from Jeff:
- All countries in the (Middle East) region understand the need to diversify economies quickly – with public-private partnerships being one of the ways to do this
- Historically, SMEs drive economic diversification, but regionally only 2% of lending goes to SMEs
- The fintech sector is a potential driver of economic growth, with a worth of almost USD 2 bn
For the complete panel session click here.