Posted on January 22, 2015 by iMFdirect
By Masood Ahmed
(Version in عربي)
The steep decline in global oil prices, by 55 percent since last September, has changed the economic dynamics of oil exporters in the Middle East and North Africa. Our update of the Regional Economic Outlook, released yesterday, shows that these countries are now faced with large export and government revenue losses, which are expected to reach about $300 billion (21 percent of GDP) in the Gulf Cooperation Council and about $90 billion (10 percent of GDP) in other oil-exporting countries.
Where prices will eventually settle is, of course, uncertain, making it hard for policymakers to gauge how much of the bane is temporary in nature and what share of it they should expect to last.
Filed under: Asia, Economic outlook, Economic research, Financial Crisis, Fiscal policy, Global Governance, Government, growth, IMF, International Monetary Fund, Investment, Middle East, Politics, عربي | Tagged: energy subsidies, GCC, Gulf Cooperation Council, Kuwait, Middle East and North Africa, oil, oil exporters, oil prices, Regional Economic Outlook: Middle East and North Africa | Leave a comment »
Posted on May 23, 2011 by iMFdirect
By Masood Ahmed
Most policymakers in the Middle East and North Africa agree that stronger economic growth is a crucial component of any strategy to address the region’s persistently high levels of unemployment and raise its living standards. One question that arises is: What role can the financial sector play?
It is well known that a dynamic and vibrant financial sector will improve economic outcomes for a country, leading to faster and more equitable economic growth. The key to answering this question, therefore, is to look to the past and examine how the financial sector has contributed historically to growth in the region. Continue reading
Filed under: Economic outlook, Employment, growth, IMF, International Monetary Fund, Middle East | Tagged: bank credit, bank intermediation, banking competition, banking sector, credit information, economic growth, equity, financial depth, financial sector, financial services, financial shallowness, macroeconomic stability, Regional Economic Outlook: Middle East and North Africa, stock market, unemployment | 7 Comments »