Sustaining the Recovery in Times of Uncertainty : A Regional Economic Outlook

This edition of the Middle East and North Africa (MENA) regional economic update shows that recovery in the region is below historical trends. Its economic prospects depend on global developments and continued strengths in emerging-market demand an...

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Bibliographic Details
Main Author:	Ianchovichina, Elena
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	ACCOUNTING ADVANCED ECONOMIES AGRICULTURAL BANK ARREARS ASSETS BALANCE OF PAYMENTS BANK CREDIT BANK CREDITORS BANK DEPOSITS BANKING SECTOR BANKING SECTORS BANKING SYSTEM BASIS POINTS BILL BOND BOND ISSUES BOND MARKETS BOND SALES BOND SPREADS CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL GOODS CAPITAL INFLOWS CASH PAYMENTS CDS CENTRAL BANK CENTRAL BANKS COMMODITY PRICES COMPETITIVENESS CONSUMER GOODS CORPORATE BOND CORPORATE DEBT CORPORATE DEBT MARKETS CORPORATE DEFAULT CREDIT AVAILABILITY CREDIT GROWTH CREDIT RECORD CREDIT SPREADS CREDITOR CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICITS CURRENT ACCOUNT POSITIONS CUSTOMS DUTIES DEBT DEBT BURDENS DEBT CRISIS DEBT RELIEF DEBT RESTRUCTURING DEBT SERVICING DEBTORS DECELERATION IN GROWTH DEFAULT RATES DEFAULTS DEMAND GROWTH DEPOSITOR DEPOSITS DEVELOPING COUNTRIES DISTORTIONS DOMESTIC GOODS DOMESTIC MARKETS DURABLE ECONOMIC CRISIS ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC SLOWDOWN EMERGING MARKETS EQUIPMENT EQUITY MARKETS EURO ZONE EUROBOND EXPENDITURE EXPENDITURE INCREASES EXPENDITURES EXPORT GROWTH EXPORT PERFORMANCE EXPORT SHARE EXPORTERS EXPOSURE EXTERNAL BORROWING EXTERNAL DEMAND FINANCES FINANCIAL CRISIS FINANCIAL FLOWS FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SUPPORT FISCAL BALANCE FISCAL DEFICIT FISCAL POLICIES FISCAL POLICY FOOD PRICE FOREIGN INFLOWS FOREIGN INVESTMENT FOREIGN INVESTMENTS FOREIGN RESERVES FREE CAPITAL FREE TRADE AGREEMENTS GLOBAL DEMAND GLOBAL ECONOMY GLOBAL MARKETS GLOBAL SLOWDOWN GLOBAL TRADE GOVERNMENT BONDS GOVERNMENT BORROWING GOVERNMENT DEBT GOVERNMENT FINANCING GOVERNMENT GUARANTEE GOVERNMENT GUARANTEES GOVERNMENT SPENDING GOVERNMENT SUPPORT GROWTH PERFORMANCE GROWTH RATES HOLDING IMPLICIT GUARANTEES IMPORT IMPORT DEMAND IMPORT TARIFFS IMPORTS INCOME TAX INCOME TAXES INDEBTED COUNTRIES INFLATION INFLATIONARY PRESSURES INFRASTRUCTURE INVESTMENTS INITIAL PUBLIC OFFERINGS INSURANCE INTEREST RATE INTEREST RATE POLICY INTEREST RATES INTERNATIONAL INVESTMENT INTERNATIONAL MARKET INTERNATIONAL RESERVES INVENTORIES INVENTORY INVESTMENT CLIMATE INVESTMENT EXPENDITURE INVESTMENT FUND INVESTMENT SPENDING ISLAMIC FINANCE ISSUANCE LABOR FORCE LABOR MARKET LABOR MARKETS LENDER LENDERS LENDING PORTFOLIO LETTERS OF CREDIT LIQUIDITY LIQUIDITY CONSTRAINTS LIQUIDITY SUPPORT LOAN LOAN GUARANTEE LOAN GUARANTEES LONG-TERM INVESTMENT MACROECONOMIC MANAGEMENT MACROECONOMIC RISK MATURITIES MATURITY MONETARY FUND MONETARY UNION MORTGAGES NEGATIVE SHOCKS NONPERFORMING LOANS OIL DEMAND OIL EXPORTERS OIL EXPORTS OIL IMPORTERS OIL MARKETS OIL PRICE OIL PRICES OIL RESERVES OIL REVENUE OIL SUPPLY PENSION POLITICAL RISKS PORTFOLIOS PRICE CHANGES PRICE HIKE PRICE INCREASE PRICE INCREASES PRICE RISKS PRICE VOLATILITY PRIVATE CONSUMPTION PRIVATE FINANCING PRIVATE INVESTMENT PRIVATE SECTOR BANK PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SAVING PUBLIC SPENDING REAL ESTATE LENDING REAL EXCHANGE RATE RECESSION REGISTRATION FEES REGULATORY REFORM REMITTANCE REMITTANCES REPAYMENT RESERVE RESERVE REQUIREMENTS RESERVES RETURN RISK AVERSION RISK PREMIUMS SAVINGS BANKS SECURITIES SETTLEMENT SOVEREIGN DEFAULT SPARE CAPACITY SPOT MARKET SPOT PRICE STOCK MARKETS STOCKS STRUCTURAL REFORMS SUKUK SUPERVISION OF BANKS TAX TAX EXEMPTIONS TAX INCENTIVES TELECOMMUNICATIONS TRADE AGREEMENT TRADE CREDIT TRADE CREDITORS TRADE LIBERALIZATION TRADE SECTORS TRADE SHOCK TRADE SHOCKS TRADING TREASURIES UNANTICIPATED SHOCKS UNCERTAINTIES UNCERTAINTY UNDERLYING ASSET UNEMPLOYMENT RATE UNEMPLOYMENT RATES WORKING CAPITAL YIELD SPREADS
Online Access:	http://documents.worldbank.org/curated/en/223091468032338341/Sustaining-the-recovery-in-times-of-uncertainty http://hdl.handle.net/10986/27917

Description
Summary:	This edition of the Middle East and North Africa (MENA) regional economic update shows that recovery in the region is below historical trends. Its economic prospects depend on global developments and continued strengths in emerging-market demand and oil price trends. Growth in the region is expected to average 4% in 2010, an increase of slightly less than 2 percentage points (pp) over growth in 2009 and weak compared to increases of 5.6pp in advanced economies and 4.5pp in developing nations. Only by 2011 and 2012 is MENA s growth expected to return to the average rates achieved prior to the economic and financial crisis. Recovery has been driven by the global economic rebound and, to varying degrees, by domestic stimulus. Industrial production, which in MENA is dominated by oil, has nearly reached its pre-crisis peak, largely due to the strong recovery in emerging markets, especially Asia. However, the upturn has weakened in recent months because the global slowdown has arrived sooner and is occurring faster than previously anticipated, and there are serious concerns about the sustainability of the global recovery. In response, MENA governments have continued to stimulate their economies in 2010, and even those that did not use any type of fiscal stimulus in 2009 have started implementing fiscal measures in 2010. The economic recovery in MENA has been much less vigorous than the recovery in countries that suffered sharp output contractions. The sustainability of the recovery in Gulf Cooperation Council (GCC) economies depends on developments in the rest of the world, and on the extent to which they affect oil markets. The outlook for the global economy and oil markets in the second half of 2010 remains uncertain, and a decline in oil prices cannot be ruled out.

Sustaining the Recovery in Times of Uncertainty : A Regional Economic Outlook

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