Regional Economic Outlook, October 2011, Middle East and Central Asia

October 26, 2011

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Regional Economic Outlook, October 2011, Middle East and Central Asia, (USA: International Monetary Fund, 2011) accessed November 24, 2024

Summary

The Arab Spring holds the promise of improved living standards and a more prosperous future for the peoples of the Middle East and North Africa region. At the same time, the region is witnessing uncertainty and economic pressures from domestic and external sources, which will likely be exacerbated by the recent worsening of the global economy. The main challenge in the short term will be to manage expectations while maintaining economic stability. To that end, better-targeted subsidies and transfers will help free up resources for investment in infrastructure, education, and health. Policies aimed at fostering inclusive growth will also help cement the longer-term benefits of the ongoing changes in the region. In the Caucasus and Central Asia, the economic outlook is broadly positive. Exports and remittances--key growth drivers in 2010--are continuing to grow solidly, helping the recovery gain firm momentum. At the same time, uncertainties over the robustness of the global recovery constitute a downside risk to the growth outlook. Key challenges facing the region over the medium term are to create jobs and foster high and inclusive growth.

Subject: Balance of payments, Commodities, Fuel prices, Inflation, Labor, Oil, Oil prices, Prices, Remittances, Unemployment

Keywords: CCA country, Commodity metals price, Country, Europe, Fuel prices, GCC country, Global, IMF staff calculation, Importer, Inflation, Maghreb, MENAP country, Middle East, Middle East and Central Asia, North Africa, Oil, Oil exporter, Oil importer, Oil prices, Remittances, REO, Unemployment

Publication Details

Pages:

118
Volume:

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DOI:

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Issue:

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Series:

Middle East and Central Asia
Stock No:

REOMCDEA2011002
ISBN:

9781616351298
ISSN:

2071-4122

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