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Middle East and North Africa Economic Monitor, April 2015
[Rapport de suivi économique de la région MENA : Vers un nouveau contrat social]

Author

Listed:
  • Shantayanan Devarajan
  • Lili Mottaghi

Abstract

The economic outlook for the Middle East and North Africa (MENA) region in 2015 is slightly more favorable than in 2013-14, when the region as a whole grew at 3 percent a year. The World Bank group’s latest MENA Economic Monitor projects MENA’s economic growth to average 5.2 percent in 2015 driven by domestic consumption, easing political tensions crowding-in investments in Egypt and Tunisia, and full resumption of oil production in Libya. However the violent conflicts in Syria, Iraq, Gaza, Yemen and Libya with their spillovers to Lebanon and Jordan could make MENA’s economic prospects bleak. The report has a special focus on the corrosive nature of the large energy subsidies in MENA. The MENA region is currently experiencing growth below potential, high unemployment, urban air pollution and congestion, and severe water scarcity that is undermining agriculture. The report shows how energy subsidies have contributed to these development challenges. Reforming these subsidies, therefore, should be one of the highest priorities of policymakers.

Suggested Citation

  • Shantayanan Devarajan & Lili Mottaghi, "undated". "Middle East and North Africa Economic Monitor, April 2015 [Rapport de suivi économique de la région MENA : Vers un nouveau contrat social]," World Bank Publications - Reports 21718, The World Bank Group.
    • Handle: RePEc:wbk:wboper:21718
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    Citations

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    Cited by:

    1. Bussolo,Maurizio & Lebrand,Mathilde Sylvie Maria & Torre,Ivan, 2020. "Feeling Poor, Feeling Rich, or Feeling Middle-Class : An Empirical Investigation," Policy Research Working Paper Series 9456, The World Bank.
    2. Ballatore, Benedetto Francesco, 2021. "The importance of Russia’s agricultural sector in the MENA geopolitics," MPRA Paper 106440, University Library of Munich, Germany, revised 05 Mar 2021.
    3. Roberta Gatti & Diego F. Angel-Urdinola & Joana Silva & Andras Bodor, 2014. "Striving for Better Jobs : The Challenge of Informality in the Middle East and North Africa," World Bank Publications - Books, The World Bank Group, number 19905.
    4. Isiaka Akande Raifu & Alarudeen Aminu, 2023. "The effect of military spending on economic growth in MENA: evidence from method of moments quantile regression," Future Business Journal, Springer, vol. 9(1), pages 1-21, December.
    5. Shantayanan Devarajan, 2018. "How to Use Oil Revenues Efficiently," Working Papers 1199, Economic Research Forum, revised 24 May 2018.
    6. Chandan Kumar Jha & Fatih Kırşanlı, 2024. "Arab Spring, democratization of corruption, and income inequality," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(3), pages 3678-3691, July.

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