Businesses in the Middle East are feeling the pinch as the drop in oil prices continues to be a concern. That’s the essence of a survey carried out by the Association of Chartered Certified Accountants and the Institute of Management Accountants. The report says the government spending expectations index in the region has never been lower. It also notes that emerging markets of the Asia Pacific region have suffered the deepest slump. Andrew Scott is a Professor of Economics at the London Business School.