Regional Economic Outlook, October 2019, Middle East and Central Asia

Global developments continue to impact the Middle East and Central Asia (MCD) region.
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Volume/Issue: Volume 2019 Issue 005
Publication date: November 2019
ISBN: 9781513514000
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Finance , Economics- Macroeconomics , Public Finance , REO , IMF staff calculation , country , CCA country , oil exporter , CCA region , oil importer , Oil prices , Oil , Capital inflows , Middle East and Central Asia , Global , Middle East , Central Asia and the Caucasus , North Africa , country abbreviation , Oil exports

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Summary

Growth in the near term remains subdued for oil exporters in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, amid volatile oil prices, precarious global growth, elevated fiscal vulnerabilities, and heightened geopolitical tensions. In addition, declining productivity is dampening medium-term growth prospects. To reduce dependence on oil prices and pave the way for more sustainable growth, fiscal consolidation needs to resume, underpinned by improved medium-term fiscal frameworks. In parallel, structural reforms and further financial sector development would boost foreign direct investment (FDI) and domestic private investment and foster diversification, thus contributing to improved productivity and potential growth.

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