Western hemisphere, we analyze whether changes in underlying fundamentals have made the region more or less vulnerable over time. From an economic perspective, high energy subsidies. The panel discussion covered the macro outlook for the region given the intertwined effects of covid19, fall in oil prices and financial shocks. Tajikistan economic outlook economic indicators, news. Regional economic outlook report for the middle east and. In our fall 2010 regional economic outlook, the emerging economies in central and eastern europe are projected to grow by 3. The analysis and projections contained in the mcd reo are integral elements of the departments surveillance of economic developments and policies in 31 member countries. On the more shortterm, the rising dollar is an issue, says fink. Imf chief economist maury obstfeld introduces the world economic outlook 2016 and highlights the funds findings and recommendations for policymakers going forward. We are pleased to present the 2015 edition of the annual mena reinsurance barometer, covering the middle east north africa mena region, including turkey. There is also the financial risk to emerging markets of the rising dollar, he says, echoing christine lagardes comments, and. Although data showing healthy export growth points to a good start to fiscal year 2019a2020 july 2019july 2020, the outbreak of coronavirus will be taking a heavy toll on the economy.
The economic impact of this will be far reaching he says. Dubai international financial centre difc, the leading global financial hub supporting sustainable growth in the middle east, africa and south asia, today concluded a conference in collaboration with the international monetary fund imf to launch the regional economic outlook reo update for the middle east and north africa. The global fallout from the fastspreading covid19 pandemic is set to hammer the tajik economy in the first half of this year, after growth accelerated to a sevenyear high in 2019 amid booming industrial activity. The analysis, which complements our work on the effects of termsoftrade shocks, looks at what country features and policies make a difference.
Middle east and central asia reo is prepared annually by the imf s middle east and central asia department mcd. General features and composition of groups in the world economic outlook classification 206 table a. International monetary fund imf data and statistics. E anas alsaleh, minister of finance, and was attended by ministers of finance and central bank governors from the gcc countries, and other high level guests. Growth for countries in the middle east, north africa, afghanistan, and pakistan menap region has. The economic outlook for subsaharan africa is weakening. They also address economic policy developments that have affected economic performance in the regions, and discuss key challenges faced by policymakers. They address regional policy developments and challenges, and provide countryspecific data and analysis, including through analytical pieces on issues of interest to a particular region. Countries of the middle east and central asia region have been hit by two. Economic growth in mena is projected to rebound in 2018, thanks to the positive global outlook, oil prices stabilizing at relatively higher levels, stabilization policies and reforms, and recovery and reconstruction as conflicts recede. Data revisions reflect changes in methodology andor revisions provided by country authorities. The imfs latest economic health check of subsaharan africa shows that growth fell to its lowest level in 20 years.
Regional economic outlook, october 2019, subsaharan africa regional economic outlook, october 2019, middle east and central asia regional economic outlook, october 2019, western hemisphere department. Some factors contributing to this slowdown are lower commodity prices, the. The dataset contains time series at the regional and country level on gdp growth, inflation, unemployment, payments balances, exports, imports, external. Dec 11, 2018 one of the mena regions brightest spots will be egypt, which the imf forecasts as likely to report real gdp growth of 5.
Imf middle east and central asia department 1 middle east and north africa regional economic outlook april 29, 2019 jihad azour director middle east and central asia department 2. May 02, 2017 the international monetary fund also said menap oil exporters can expect gross domestic product to expand 1. Imf downgrades global economic outlook again agency cuts 2015 global growth view to 3. Middle east will see ballooning deficits tumble as.
Mideast debt, unemployment to spike in virus recession. Growth in subsaharan africa is projected to remain at 3. Regional economic outlook, april 2017, middle east and. Middle east and central asia reo is prepared by the imf s middle east and central asia department mcd. Pdf fiscal space for childsensitive social protection. Already, the government is running a fiscal deficit close to 3. Middle east will see ballooning deficits tumble as oil. Mena regional economic outlook, 2010 sustaining the recovery in times of uncertainty elena ianchovichina lead economist, mena region world bank october, 2010.
May 07, 2019 graph and download economic data for nonoil real gdp growth in constant prices for syrian arab republic syrngdpxorpchpt from 2000 to 2010 about syria, nonoil, reo, real, gdp, and rate. Abstract o the world economic outlook weo database is updated twice a year april and september as part of the publication of the world economic outlook report. In addition to the devastating toll on human health, the covid19 pandemic and the plunge in oil prices are causing economic turmoil in the region, with fragile and conflict affected states particularly hardhit given already. The imfs latest regional economic outlook for the western hemisphere, released yesterday in mexico city, projects that the region is set to contract by 0. Ethiopia economy gdp, inflation, cpi and interest rate. Automatic fuel price adjustment mechanism planned for first half of 2015. Imf, world economic outlook, april 2015 2015 2020 estimates, forecasts 2009 2014 3. In this podcast, the imf african departments celine allard, who oversaw the report, says that this drop brought a halt to the 5 to 6 percent growth rate that was enjoyed in the last two decades. The international monetary fund also said menap oil exporters can expect gross domestic product to expand 1. Regional economic outlook middle east and central asia. One of the mena regions brightest spots will be egypt, which the imf forecasts as likely to report real gdp growth of 5. Imf, january 2015, data from imf, october 2014 mena economic outlook. The imfs latest economic health check of subsaharan africa shows that growth fell to its lowest level in 20 years in this podcast, the imf african departments celine allard, who oversaw the report, says that this drop brought a halt to the 5 to 6 percent growth rate that was enjoyed in the last two decades. They also address economic policy developments that have affected economic performance, and discuss key challenges faced by policymakers.
Imf slashes uae, global growth forecast news khaleej times. A number of assumptions have been adopted for the projections presented in the regional economic outlook update. Oct 26, 2011 country and regional groupingsthe october 2011 regional economic outlook. Middle east and central asia economic outlook imf data. Country and regional groupingsthe october 2011 regional economic outlook. Imf releases new world economic outlook live business. Growth for countries in the middle east, north africa, afghanistan, and pakistan menap region has weakened but remains broadly stable in the caucasus and central asia cca. Opecs agreement in september 2016 to cut production will hopefully lead to increased oil revenues for oil exporters. Click here to download the imf regional economic outlook. The imfs latest regional economic outlook for subsaharan. Graph and download economic data for nonoil real gdp growth in constant prices for syrian arab republic syrngdpxorpchpt from 2000 to 2010 about syria, nonoil, reo, real, gdp, and rate.
Nonoil real gdp growth in constant prices for syrian arab. World economic and financial surveys regional economic outlook. Middle east and central asia regional economic outlook. In the october 2016 regional economic outlook for mena, the imf assumed oil sector growth of 2 per cent for the uae in 2017. World economic and financial surveys regional economic. They address regional policy developments and challenges, and provide countryspecific data and analysis, including. Sudan regime change has created a window of opportunity for fundamental reforms to address major macro. The views expressed in this publication are those of the imf staff and do not necessarily represent the views of the imfs executive directors or their national authorities.
Mena economic outlook uncertain as oil loses its lustre. Imf the covid19 pandemic and the plunge in oil prices are causing significant economic turmoil in the region. Jihad azour countries of the middle east and north africa mena continue to face the challenge of generating inclusive and longlasting growth in the environment of low oil prices, ongoing conflicts, and concerns regarding regional security. Most highincome oil exporters, primarily in the gcc, continue to record steady growth and solid economic and financial fundamentals, albeit with mediumterm challenges that need to. Country index out of 100 regional rank mena investment and trade openness source. The expected recovery, however, is at a slower pace than previously envisaged for about twothirds of the countries in the region, partly due to a challenging external environment. The international monetary fund imf is an international organization headquartered in washington, d. The middle east and central asia regional economic outlook reo is prepared annually by the imfs. Regional economic outlook report for the middle east. International monetary fund imf data and statistics gdp. A better business environment, high commodity prices and improved global.
Oil makes up more than 50 percent of total exports from mena oil exporting countries figure 3. It draws primarily on information gathered by mcd staff through their consultations. On october 25th, 2014 the imf middle east center for economics and finance cef was inaugurated in an official ceremony by madam christine lagarde, managing director of the imf, and h. Among oil importing economies, increasing growth is predicated on policy reform progress and. Panelist at the launch of imfs mena regional economic outlook, 27 apr 2020. South asia is one of the fastestgrowing regions in the world, with average gross domestic product gdp growth projected to be 7 percent in 2015. Imf world economic outlook weo update, january 2015. World economic outlook expects global growth to be 3.
Recent indicators paint a story of economic recovery. On june 9, imf african department director antoinette sayeh presented the imfs regional economic outlook for subsaharan africa, which argues that. The articles of agreement of the international monetary fund were adopted at the united nations. Regional economic outlook, middle east and central asia, october 2015. Middle east and central asia reo is prepared annually by the imfs middle east and central asia. At a share of less than 16%, life business continues to play a relatively minor role in comparison with its global share of 56%. In its regional economic outlook, the imf projected gcc economic growth at just 0. It is expected that, at the national peoples congress in march, a larger target deficit will be. It draws primarily on information gathered by mcd staff. Dubai international financial centre concludes regional. Growth is projected to remain strong in nonresourceintensive countries, averaging about 6 percent. Countries of the middle east and central asia region have been hit by two large and reinforcing shocks, resulting in significantly weaker growth projections in 2020. We use cookies to offer you a better experience, personalize content, tailor advertising, provide social media features, and better understand the use of our services. Tajikistan economy gdp, inflation, cpi and interest rate.
Other oil exporters are developing oil exporters in mena. We hope you benefit from the findings of the qfc 2015 mena reinsurance barometer. The following statistical appendix tables contain data for 31 mcd countries. Nasser saidi participated as a panelist at the imfs launch of the regional economic outlook report for the middle east and north africa region on 27th april, 2020. Classification by world economic outlook groups and their shares in aggregate gdp, exports of goods and services, and population, 2015 207 table b. Subsaharan africa reports discuss recent economic developments and prospects for countries in these regions. Bruegel based on international monetary fund, world economic outlook database, accessed in february 2017. Regional economic outlook international monetary fund.
The panel discussion covered the macro outlook for the region given the. On june 9, imf african department director antoinette sayeh presented the imf s regional economic outlook for subsaharan africa, which argues that the regions mediumterm prospects remain. Middle east and central asia reo is prepared annually by the imfs middle east and central asia department mcd. The weakening of the chinese economy due to reduced consumer spending and activity as well as reduced industrial production has led to calls for fiscal stimulus. The international monetary fund imf is an international organization that was initiated in 1944 at the bretton woods conference and formally created in 1945 by 29 member countries. In addition, economic activity in the nonoil sector is picking up due to improved global demand. The analysis and projections contained in the mcd reo are integral elements of the departments surveillance of. The survey is based on indepth interviews with senior executives of 32 regional and international reinsurance companies, ceding companies and intermediaries operating in the mena region.
Middle east and central asia reo, covering countriesin the middle east and central asia department mcd of the international monetary fund imf,provides a broad overview of recent economic developments in 2011 and prospects and policy issuesfor 2012. The imfs latest regional economic outlook for subsaharan africa. Growth among oil exporters is anticipated to pick up to 2. Countries facing con ictssuch as iraq, liby a, syria and y. Imf staff and officials on pressing economic and policy issues of the day. This issue discusses economic developments in the middle east, north africa, afghanistan, and pakistan menap, which continue to reflect the diversity of conditions prevailing across the region. The revisions reflect a reassessment of prospects in china, russia, the euro area, and japan as well as weaker activity in some major oil exporters because of the sharp drop in oil prices. This further illustrates the predominance of the oil sector in these economies, and their consequently. Both projections and policy considerations are those of the imf staff and do not necessarily represent the views of the imf, its executive board, or imf management. Regionally, the middle east and north africa mena growth outlook was slashed by 0. Countries of the middle east and central asia region have been hit by two large and reinforcing shocks, resulting in significantly weaker growth. The imfs stated goal was to assist in the reconstruction of the worlds international payment system postworld war ii. Regional economic outlook, middle east and central asia.
Posttax energy subsidies in selected mena countries, 2015 source. World economic and financial surveys, 02587440 twice a year. Bmi, trade and investment index, february 2015 44as it stands, intraregional trade among mena countries accounted for just 10. In chapter 3 of the imfs latest regional economic outlook. There are five regions asia and pacific, middle east and central asia, subsaharan africa, western hemisphere and europe.
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