Global Economic Prospects

1818 H Street, N.W. Washington, DC 20433 USA

Email GEP
This page in:
  • English

Middle East and North Africa

In the Middle East and North Africa, growth is expected to remain flat at 2.2 percent in 2015, according to the June 2015 issue of Global Economics Prospects. The plunge in oil prices is a particular challenge for oil-exporting countries, most of which also have severe security challenges (Iraq, Libya, and Yemen) or limited economic cushioning (Iran, Iraq). For oil-importing countries, the potential positive effects of lower oil prices are partially offset by spillover effects from more fragile countries in the region, including through lower remittances and security risks. Long-standing structural constraints present a chronic obstacle to faster growth in the region. The expected regional growth rebound to 3.7 percent in 2016-17 is predicated on improving external demand, strengthening confidence that boosts investments in some oil-importing countries (Egypt, Jordan).

Download analysis (PDF)