Bank Muscat seminar highlights economic outlook for 2019

Muscat – Bank Muscat hosted an event to highlight the global economic outlook for 2019. Organised by the bank’s wholesale banking and strategic growth division, the high profile session held at the bank’s headoffice was addressed by Michala Marcussen, chief economist of Societe Generale.

In a presentation titled ‘Global Macroeconomic Outlook for 2019: Navigating Debt and Uncertainty,' Michala covered current topics affecting the global and regional economies with a focus on interest rates and energy sector. The event was attended by prominent government and corporate clients.

Michala said, “The market concern can be summarised as the fear that central banks have insufficient ammunition to deal with a new significant slowdown in a world of still high debt and political uncertainty. Indeed, en- tering 2019, global trade is weighed down by ongoing tariffs and tensions. This uncertainty, combined with a strong dollar and weaker commodity prices is, moreover, a concern for emerging markets.”

Abdullah al Hinai, chief wholesale banking and strategic growth officer at Bank Muscat said, “Bank Muscat is proud to host Michala as part of efforts aimed at equipping partner clients with insights into key economic trends in global markets. The economic future for our country depends on efforts made by us to benefit from opportunities available to us. The world economy has opened new avenues for cooperation between different countries and economic blocs, besides creating strategic roles for emerging economies as evident from the rapid increase in volume of foreign and transcontinental investments.”