Middle East & Central Asia News
LAST UPDATE: July 10, 2025
UAE Says OPEC+ Super-Sized Supply Hike Was Needed by Oil Market
UAE Energy Minister states OPEC+’s large production increase was necessary as global oil markets are absorbing extra barrels; inventories have not risen despite output hikes .
Insight
The remarks suggest continued confidence in demand and possible further supply responses from OPEC+ not risking oversupply, reinforcing market stability.
Pakistan central bank to launch pilot for digital currency, says governor
Pakistan’s central bank will pilot a CBDC; digital-assets legislation is nearing completion, and collaboration with tech partners (incl. crypto advisor CZ of Binance) is underway; interest rate cut followed inflation drop to 3.2% in June .
Insight
Pakistan joins a growing list of countries testing CBDCs. With stable macro conditions and strategic crypto engagement, this could modernize payments and expand financial access.
Egypt’s annual urban consumer inflation at 14.9% in June, stats agency says
Reuters
Urban consumer price inflation slowed to 14.9% in June (from 16.8% in May). Food and beverage prices fell 1.2% monthly (year‑on‑year +6.9%). Inflation peaked at 38% in Sept 2023, with IMF support helping ease it.
Insight
The sharper-than-expected drop (vs 16.2% forecast) suggests that IMF-backed reforms are taking effect. Continued moderation in core inflation (11.4% in June, down from 13.1%) indicates underlying price pressures are easing, but still elevated. Sustained policy support is crucial to maintain momentum.
