Commodities

Although Moldova is ‘moderately free’ for economic freedom, Russia’s influence operations may spur instability. Economic growth to rebound over the near term, outperforming regional average. The population is shrinking and ageing rapidly, which…

Mauritius boasts a stable democracy and mature institutions, contributing to high economic freedom. Already highly diversified, the economy is set to grow in sectors like agro-processing and medical tourism. Country’s diverse population and low…

Mauritania suffers from political instability, whilst ethnic tensions are also a destabilising factor. However, government finances are relatively robust with fiscal room to manoeuvre. Recent hydrocarbon finds and rising commodity prices are expected…

Although Martinique does not suffer from undue corruption, its political environment has been prone to secessionist tendencies. Given that the economy is highly dependent on tourism, its recovery from the Coronavirus (COVID-19) pandemic remains slow.…

Malta is mostly free, helping businesses to flourish, but corruption is relatively widespread compared to regional peers. Foreign investors flock to the island, eager to participate in the financial services sector, but dependence on tourism and…

Mali's political scene is marked by instability, significant military influence, and widespread corruption, with large areas beyond government control. Mali’s undiversified economy is reliant on international aid and its agriculture sector. The…

Malawi has relatively stable governments, yet deteriorating global peace and terrorism rankings suggests concerns over increasing violence. Economic forecasts are optimistic, with growth expected to exceed that of regional peers over the long term,…

Madagascar faces political instability and limited economic freedom, hindering structural reforms. While the primary sector underpins the economy, high inflation and elevated poverty rates challenge growth. Despite a young, expanding population and…

Macau, China benefits from political stability, but its ageing population could make increasing demands on government finances in the future. As the world’s largest gambling hub, Macau’s economy is heavily dependent on revenues from casinos, making…

A lack of corruption, government stability, and high levels of economic freedom characterise Luxembourg. Strength in financial services and adaption to remote working has served the economy well, which could outperform peers going forward.…