{"title":"Regional Economic Outlook, October 2019, Middle East and Central Asia","authors":"","doi":"10.5089/9781513514000.086","DOIUrl":null,"url":null,"abstract":"Growth in the near term remains subdued for\noil exporters in the Middle East, North Africa,\nAfghanistan, and Pakistan (MENAP) region, amid\nvolatile oil prices, precarious global growth, elevated\nfiscal vulnerabilities, and heightened geopolitical\ntensions. In addition, declining productivity is\ndampening medium-term growth prospects. To\nreduce dependence on oil prices and pave the way for\nmore sustainable growth, fiscal consolidation needs\nto resume, underpinned by improved medium-term\nfiscal frameworks. In parallel, structural reforms\nand further financial sector development would\nboost foreign direct investment (FDI) and domestic\nprivate investment and foster diversification,\nthus contributing to improved productivity and\npotential growth.","PeriodicalId":280739,"journal":{"name":"Regional Economic Outlook","volume":"321 ","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2019-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Regional Economic Outlook","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.5089/9781513514000.086","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 1
Abstract
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.
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