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Middle East and North Africa Economic Developments and Prospects, October 2012 : Looking Ahead After a Year in Transition
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- World Bank.
- Series:
- Middle East and North Africa Economic Monitor
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- International Economics and Trade.
- Macroeconomics and Economic Growth.
- Private Sector Development.
- Local Subjects:
- International Economics and Trade.
- Macroeconomics and Economic Growth.
- Private Sector Development.
- Physical Description:
- 1 online resource (42 pages)
- Other Title:
- Middle East and North Africa Economic Developments and Prospects, October 2012
- Middle East and North Africa Economic Monitor
- Place of Publication:
- Washington, D.C., The World Bank, 2012.
- System Details:
- data file
- Summary:
- The post-revolutionary economies of MENA - Egypt, Tunisia, Libya and Yemen - have been recovering after a period of growth decelerations in 2011. In Egypt and Tunisia, the growth dips of 2011 were less dramatic than the declines observed during previous transitions. The recovery has been relatively quick but the transition process is far from complete and uncertainty about the political and reform process remains a binding constraint to private investment. Consequently, post-transition growth is below potential and is lower than growth prior to the Arab Spring, with negative consequences for employment and poverty. Events in the post-revolution economies have affected other countries in MENA. Macroeconomic fundamentals weakened in most developing MENA countries in 2011-12 as growth slowed and governments responded to social pressures with expansionary fiscal policies. The regional growth outlook for 2013 reflects weaker expected global economic activity, especially in the EU, and moderating oil prices. Regional economic growth is expected to decelerate to 3.5% in 2013 from 5.5% in 2012. Prolonged political and policy uncertainty and social unrest are serious downside risks to the outlook.
- Notes:
- Description based on print version record.
- ISBN:
- 0-8213-9807-5
- Publisher Number:
- 10.1596/978-0-8213-9807-4
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