Prospects 2015 Q2

Legislative pessimism on domestic policy will continue, but the White House will advance its foreign policy regardless

Reduced oil revenues, subsidy reform, 'Islamic State' expansion and a possible Iran nuclear deal top the regional agenda

With nuclear talks unlikely to continue beyond March, their success will shape Iran's outlook next month and beyond

Supply gluts will continue to hold down oil and gas prices, while demand indicators will increase volatility

The economic outlook is gloomier and international friction may rise again after a lull

The region's political and economic outlook is arguably the most negative for some time, with no rapid fix likely

Tensions over Greece and Russia, and concern about the UK election, will dominate European policy-making this quarter

Specialisation and service-oriented manufacturing will lead governments to reconsider support policies

The next three months will first be dominated by campaigning for the June polls and then by arguments over the results

Cyber will establish itself as a key security threat, as governments grapple with proper responses

Russia-Ukraine crisis will dominate, with economy and strengthening nationalism posing growing challenges for Putin

Oil price shocks, a fragile external environment and electoral risks shape the outlook

Financing availability shapes mixed progress on addressing infrastructure gaps in the major economies

Despite a challenging political landscape, regional second-quarter economic growth will be steady