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

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.

• Format: Paperback
• Language: English
• ISBN: 1513514008
• ISBN13: 9781513514000
• Release Date: November 2019
• Publisher: International Monetary Fund
• Length: 75 Pages