$1.6T Middle East Projects Are Delayed Or Cancelled: Citibank

alifarabia | May 15, 2011 | Africa, Bahrain, Egypt, Iraq, Kuwait, Libya, Macroeconomic Data, North Africa, Oman, Qatar, Saudi Arabia, UAE | No Comments

Close to $1.6-trillion worth of projects are cancelled or are on hold in the Middle East and East North African market, with $800-billion in the UAE alone, according to Citibank. The statistics are a reflection of the hangover of the leveraged days in the region when billion dollar projects were announced virtually every other day. Read More Here

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