IDEAS home Printed from https://ideas.repec.org/p/wbk/wboper/42000.html
   My bibliography  Save this paper

MENA Economic Update, October 2024: Growth in the Middle East and North Africa
[Bulletin d’information économique de la région MENA, octobre 2024 : Croissance au Moyen-Orient et en Afrique du Nord]

Author

Listed:
  • Roberta Gatti
  • Jesica Torres
  • Nelly Elmallakh
  • Gianluca Mele
  • Diego Faurès
  • Mennatallah Emam Mousa
  • Ilias Suvanov

Abstract

This issue of the MENA Economic Update presents a summary of recent macroeconomic trends, including an update of the conflict centered in Gaza and its regional spillovers, alongside an analysis of factors that shape the long-term growth potential of the region, with special attention to the persistent effects of conflicts. A modest uptick in growth is forecast for 2024, which nonetheless masks important disparities within the region. The acceleration is driven by the high-income oil exporters, while growth is expected to decelerate among developing MENA countries, both developing oil exporters and developing oil importers. Despite current challenges, the region can dramatically boost growth by better allocating talent in the labor market, leveraging its strategic location, and promoting innovation. Closing the gender employment gap, rethinking the footprint of the public sector, and facilitating technology transfers through trade under enhanced data quality and transparency can help the region leap toward the frontier. Peace is a pre-condition for catching up to the frontier, as conflict can undo decades of progress, delaying economic development by generations.

Suggested Citation

  • Roberta Gatti & Jesica Torres & Nelly Elmallakh & Gianluca Mele & Diego Faurès & Mennatallah Emam Mousa & Ilias Suvanov, "undated". "MENA Economic Update, October 2024: Growth in the Middle East and North Africa [Bulletin d’information économique de la région MENA, octobre 2024 : Croissance au Moyen-Orient et en Afrique du Nord]," World Bank Publications - Reports 42000, The World Bank Group.
    • Handle: RePEc:wbk:wboper:42000
    as

    Download full text from publisher

    File URL: https://openknowledge.worldbank.org/bitstreams/05af7119-bbae-45c9-b66b-79760f8a72d3/download
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wbk:wboper:42000. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tal Ayalon (email available below). General contact details of provider: https://edirc.repec.org/data/dvewbus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.