Do you think the financial crisis is almost behind us?
The results are in.
July 26, 2009 12:13 by Dana El Baltaji
There is no question that the effects of the financial crisis are ongoing; companies are still downsizing, advertising spend remains low and most corporations aren’t hiring. However, Kipp has noted a shift in attitude in the region, from apocalyptic to begrudgingly (and only slightly) positive. According to numerous articles we’ve read and our conversations with financial analysts, the end of the financial crisis may be near.
Most of Kipp’s readers, however, disagree; 70 percent of respondents to our poll say the financial crisis is far from over, and that “we have a long way to go before it’s over.”
Indeed, the World Bank projects that the world’s economies may recover in 2011. That’s a long time for those who have suffered severe financial losses due to the global economic meltdown.
In spite of the bleak projections, regional politicians insist there are signs are recovery; and some of Kipp’s respondents agree. Thirteen percent claim that world economies are “starting to stabilize.”
Meanwhile, 3 percent claim they don’t know if the crisis is behind us, and 9 percent of respondents said were made redundant recently, and have been unable to find new jobs in the current economic climate.
And of course, 5 percent of our clued in respondents asked “What financial crisis?”
Sometimes we wonder why we bother.
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2 Comments
I wouldnt say the economy crisis is over yet, but we have seen signs of recovery like spreads are getting tighter and banks are wiling to take more risk. Big investment funds are taking this as an opportunity to aquire other firms at a bargain prices. Some entered too early and now I think is the best time if you have a deep pocket and you look for long term investments. Many argue about oil saying if it keeps on rising it wont help the economy to recover, but I look at it differently if oil goes up then that means many people in the GCC will get to keep their jobs and money earned from oil will be reinvested either globally or internally which in both cases it will be good for the economy.
Hearing international banks are giving middle east sales people crazy offers (people who cover this region), most of International banks are targeting them especially for those people with more than 4 years experience so expect to see alot of movements in the next 6 months so that is another sign that positive mood is back again and how important this region especially the GCC countries for reviving the world economy.