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Middle East and North Africa Regional Economic Update, April 2012

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Abstract

Political uncertainties in the Middle East and North Africa (MENA) continue to affect the short term economic prospects in the region, while major developments in the global economy over the past six months have put the region on a two-track growth path for 2012. These developments include a significant rise in crude oil prices on fears of oil supply disruptions and weak economic activity in the Eurozone. Economic growth of MENA's oil exporting countries will be strong as it rebounds from the average of 3.4 percent in 2011 to 5.4 percent in 2012. Overall growth in the region is expected to be 4.8 percent in 2012, surpassing the 3 percent growth achieved in 2011. Improvement in the growth prospects of oil exporters is due to strength in oil markets. The fiscal situation is expected to remain tenuous for oil importing countries, especially those going through transitions. Overall, inflation is expected to remain subdued in 2012, with the notable exceptions of Iran and Egypt. Subsidies are currently dampening currently dampening the effects of increased global food and energy prices in many MENA countries.

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  • World Bank, "undated". "Middle East and North Africa Regional Economic Update, April 2012," World Bank Publications - Reports 27236, The World Bank Group.
    • Handle: RePEc:wbk:wboper:27236
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    References listed on IDEAS

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    1. World Bank, 2011. "World Development Report 2011 [Rapport sur le développement dans le monde 2011 : Conflits, sécurité et développement - Abrégé]," World Bank Publications - Books, The World Bank Group, number 4389.
    2. World Bank, "undated". "Middle East and North Africa Economic Developments and Prospects, September 2011 : Investing for Growth and Jobs [Région Moyen-Orient et Afrique du Nord de la Banque mondiale : Évolution et perspec," World Bank Publications - Reports 12434, The World Bank Group.
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    Cited by:

    1. Alberto Behar & Junghwan Mok, 2019. "Does public‐sector employment fully crowd out private‐sector employment?," Review of Development Economics, Wiley Blackwell, vol. 23(4), pages 1891-1925, November.
    2. Albert Spalding & Eun-Jung Kim, 2015. "Should Western Corporations Ban the Use of Shari’a Arbitration Clauses in their Commercial Contracts?," Journal of Business Ethics, Springer, vol. 132(3), pages 613-626, December.
    3. Shahid Yusuf, 2014. "Middle East Transitions: A Long, Hard Road," IMF Working Papers 2014/135, International Monetary Fund.

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