Orient Weekly Watch: CSIORS Edition - Friday, January 5th, 2024

Moroccoworldnews.com: Morocco Anticipates a 2.4% Deceleration in Economic Growth During the First Quarter of 2024

Morocco's economy is expected to slow by 2.4% in Q1 2024, driven by challenges in the agricultural sector and global uncertainties, according to the High Commission for Planning (HCP). Excluding agriculture, overall growth is projected at 2.9%, driven by advancements in the secondary sector. Domestic demand remains a key growth factor, while international trade is anticipated to negatively impact economic activity for the third consecutive quarter.

Euronews.com: Stabilized Oil Prices Amid Diminished Libyan Supply Worries and Sluggish Demand

Oil prices stabilized after Libyan supply concerns eased, but worries about economic slowdown and demand persisted. Crude oil fell 0.64% to $72.2 per barrel, and Brent crude dipped 0.51% to $77.8 per barrel. The initial surge followed the shutdown of Libya's Sharara oilfield due to protests, with uncertainty about reopening. Geopolitical concerns initially fueled the rally, but attention shifted to economic growth fears amid lackluster data and rising inflation in major European economies. Analysts note cautious trading, prioritizing global growth and demand concerns over geopolitical risks.

Arabnews.com: Smuggling of Drugs from Syria Poses a Threat to Regional Security

Drug smuggling poses a growing threat to Jordan, with heightened clashes on the Jordanian-Syrian border and a fivefold increase in drug-related offenses since 2011. Surveys show widespread concerns among Jordanians, emphasizing the need for collaboration with Iraq and Saudi Arabia. Despite US financial support, broader regional assistance is crucial to address the escalating threat to Jordan and regional security.