Middle East and North Africa Regional Economic Update, April 2012
Middle East and North Africa Regional Economic Update, April 2012
Political uncertainties in the Middle East and North Africa (MENA) continue to affect the short term economic prospects in the region, while major developments in the global economy over the past six months have put the region on a two-track growth path for 2012. These developments include a significant rise in crude oil prices on fears of oil supply disruptions and weak economic activity in the Eurozone. Economic growth of MENA's oil exporting countries will be strong as it rebounds from the average of 3.4 percent in 2011 to 5.4 percent in 2012. Overall growth in the region is expected to be 4.8 percent in 2012, surpassing the 3 percent growth achieved in 2011. Improvement in the growth prospects of oil exporters is due to strength in oil markets. The fiscal situation is expected to remain tenuous for oil importing countries, especially those going through transitions. Overall, inflation is expected to remain subdued in 2012, with the notable exceptions of Iran and Egypt. Subsidies are currently dampening currently dampening the effects of increased global food and energy prices in many MENA countries.
- World Bank United States
- World Bank United States
CHEMICAL INDUSTRY, OIL-EXPORTING COUNTRIES, GROWTH RATES, UNCERTAINTY, EXTERNAL FACTORS, PRIVATE INVESTMENT, FOOD PRICE, INFLATIONARY PRESSURES, APPROACH, UNCERTAINTIES, EMPLOYMENT OPPORTUNITIES, INFLATION, FISCAL BALANCE, SEVERANCE PAY, FISCAL DEFICIT, OIL PRICE SPIKE, EMPLOYMENT, LABOR REGULATIONS, CREATIVE DESTRUCTION, OIL SUPPLY, OIL SUPPLY DISRUPTIONS, SHORTFALL, ECONOMIC STABILITY, SUPPLY SIDE, HIGH UNEMPLOYMENT, INCOME, CRUDE OIL, IMPORT, UNEMPLOYMENT PROBLEM, UPWARD PRESSURE, UNEMPLOYMENT LEVELS, WORKERS, WORLD DEVELOPMENT INDICATORS, DOMESTIC CURRENCIES, SHORTFALLS, PUBLIC SPENDING, LABOR MARKET OUTCOMES, SLOW GROWTH, GEOPOLITICAL TENSIONS, OIL DEMAND, PRICE INCREASES, FINANCIAL MARKETS, FINANCIAL OPENNESS, SUPPLY DISRUPTION, REMITTANCE, PUBLIC SERVICES, UNEMPLOYED, AGGREGATE INVESTMENT, GLOBAL ECONOMY, BOTTOM QUARTILE, PETROLEUM, PROPERTY RIGHTS, SOCIAL INSTABILITY, DEREGULATION, DEVALUATION, ECONOMIC ENVIRONMENT, INDEBTEDNESS, MONETARY POLICY, LIQUIDITY, INTEREST RATES, PRICE INCREASE, PRICE INDEX, NUCLEAR ENERGY, CYCLICAL FLUCTUATIONS, YOUTH UNEMPLOYMENT, PRICE CHANGES, UNEMPLOYMENT SPELLS, PRODUCTIVE FIRMS, LNG, MINIMUM WAGE, JOB SEEKERS, BUDGET DEFICIT, CURRENT ACCOUNT IMBALANCES, DESCRIPTIVE STATISTICS, FEMALE EMPLOYMENT, LABOR FORCE PARTICIPATION, ECONOMIC INTEGRATION, NATIONAL UNEMPLOYMENT, FEMALE LABOR FORCE, INFLATIONARY PRESSURE, AGGREGATE SUPPLY, ECONOMIC SLOWDOWN, LABOR MARKET ISSUES, CURRENT ACCOUNT BALANCE, UNEMPLOYMENT RATE, UNEMPLOYMENT DECLINES, REGULATORY FRAMEWORK, INITIAL UNEMPLOYMENT, FISCAL POLICY, SPARE CAPACITY, FINANCIAL INSTITUTIONS, CRUDE OIL PRICE, ECONOMIC POLICIES, INFLATION RATES, DOMESTIC DEMAND, RECYCLING, POWER, BORROWING, PRICE HIKE, UNEMPLOYMENT RATES, FEMALE LABOR, LABOR MARKETS, CURRENT ACCOUNT DEFICITS, FOREIGN INVESTMENT, PRICE OF OIL, DOWNSIDE RISKS, ROBUSTNESS CHECKS, GLOBAL DEMAND, PUBLIC INVESTMENT, LOCAL CURRENCY, OIL MARKETS, NET OIL, LABOR ORGANIZATION, AGGREGATE UNEMPLOYMENT, DOMESTIC CONDITIONS, ECONOMIC GROWTH, GROSS DOMESTIC PRODUCT, UNEMPLOYMENT REDUCTION, EMPLOYMENT GROWTH, DOMESTIC PRICE, EXTERNAL FINANCING, OIL EXPORTERS, DRIVERS, AGRICULTURAL PRODUCTION, DIESEL, ELECTRICITY TARIFFS, DOUBLE DIVIDEND, ECONOMIC CRISIS, FOOD PRICES, JOBS, OIL, ECONOMIC REGULATION, LABOR MARKET PERFORMANCE, POLITICAL STABILITY, CURRENT ACCOUNT BALANCES, BALANCE, ASSETS, OIL SUPPLIES, LABOR REGULATION, AVERAGE UNEMPLOYMENT, 330, SUPPLY SHOCKS, FOREIGN DIRECT INVESTMENT, EXPLANATORY VARIABLE, DEMOCRACY, DEVELOPMENT ECONOMICS, POLITICAL TURMOIL, SURPLUSES, REGULATORY FRAMEWORKS, WAGES, WORLD PRICES, LABOR MARKET, INCOME EARNING, PUBLIC EXPENDITURES, DECLINING UNEMPLOYMENT, PERSISTENT HIGH INFLATION, CRUDE OIL PRODUCTION, TURBULENCE, COMMODITY PRICE, OIL IMPORTERS, ECONOMIC DEVELOPMENT, PETROLEUM PRICE, BARRELS PER DAY, CRISES, FREE TRADE, INVESTMENT CLIMATE, ECONOMIC ACTIVITY, UNEMPLOYMENT BENEFITS, ELECTRICITY, ECONOMIC VULNERABILITY, MACROECONOMIC STABILIZATION, REGIONAL CRISES, MACROECONOMIC MANAGEMENT, OIL MARKET, ACCOUNTING, LIBERALIZATION, NATIONAL UNEMPLOYMENT RATES, AGGREGATE DEMAND, REMITTANCES, OIL EXPORTING COUNTRIES, STANDARD DEVIATION, VALUE INDEX, PRICE RIGIDITIES, INVESTMENT INFLOWS, OIL IMPORTING COUNTRIES, OIL PRICES, PUBLIC SECTOR EMPLOYMENT, INTERNATIONAL FINANCIAL INSTITUTIONS, ENERGY PRICES, PRIVATE SECTOR, OIL EXPORTS, CURRENT ACCOUNT, REGULATORY REFORMS, AGRICULTURAL OUTPUT, HIGHER ENERGY PRICES, IMPORTS, OIL SHOCKS, MACROECONOMIC POLICY, NATURAL GAS, COMMODITY MARKETS, OUTPUT GAPS, OIL REVENUES, OIL PRICE, ENERGY COSTS, SOCIAL BENEFITS, JOB CREATION, OIL PRODUCTION, DOMESTIC PRICE LEVELS, PRODUCTION DISRUPTIONS, LABOR FORCE, OIL COMPANIES, CAPITAL INFLOWS, PETROLEUM PRICES, DOMESTIC PRICES, STRUCTURAL REFORMS, FOREIGN CURRENCY, FOREIGN RESERVES, VOLATILE INTERNATIONAL
CHEMICAL INDUSTRY, OIL-EXPORTING COUNTRIES, GROWTH RATES, UNCERTAINTY, EXTERNAL FACTORS, PRIVATE INVESTMENT, FOOD PRICE, INFLATIONARY PRESSURES, APPROACH, UNCERTAINTIES, EMPLOYMENT OPPORTUNITIES, INFLATION, FISCAL BALANCE, SEVERANCE PAY, FISCAL DEFICIT, OIL PRICE SPIKE, EMPLOYMENT, LABOR REGULATIONS, CREATIVE DESTRUCTION, OIL SUPPLY, OIL SUPPLY DISRUPTIONS, SHORTFALL, ECONOMIC STABILITY, SUPPLY SIDE, HIGH UNEMPLOYMENT, INCOME, CRUDE OIL, IMPORT, UNEMPLOYMENT PROBLEM, UPWARD PRESSURE, UNEMPLOYMENT LEVELS, WORKERS, WORLD DEVELOPMENT INDICATORS, DOMESTIC CURRENCIES, SHORTFALLS, PUBLIC SPENDING, LABOR MARKET OUTCOMES, SLOW GROWTH, GEOPOLITICAL TENSIONS, OIL DEMAND, PRICE INCREASES, FINANCIAL MARKETS, FINANCIAL OPENNESS, SUPPLY DISRUPTION, REMITTANCE, PUBLIC SERVICES, UNEMPLOYED, AGGREGATE INVESTMENT, GLOBAL ECONOMY, BOTTOM QUARTILE, PETROLEUM, PROPERTY RIGHTS, SOCIAL INSTABILITY, DEREGULATION, DEVALUATION, ECONOMIC ENVIRONMENT, INDEBTEDNESS, MONETARY POLICY, LIQUIDITY, INTEREST RATES, PRICE INCREASE, PRICE INDEX, NUCLEAR ENERGY, CYCLICAL FLUCTUATIONS, YOUTH UNEMPLOYMENT, PRICE CHANGES, UNEMPLOYMENT SPELLS, PRODUCTIVE FIRMS, LNG, MINIMUM WAGE, JOB SEEKERS, BUDGET DEFICIT, CURRENT ACCOUNT IMBALANCES, DESCRIPTIVE STATISTICS, FEMALE EMPLOYMENT, LABOR FORCE PARTICIPATION, ECONOMIC INTEGRATION, NATIONAL UNEMPLOYMENT, FEMALE LABOR FORCE, INFLATIONARY PRESSURE, AGGREGATE SUPPLY, ECONOMIC SLOWDOWN, LABOR MARKET ISSUES, CURRENT ACCOUNT BALANCE, UNEMPLOYMENT RATE, UNEMPLOYMENT DECLINES, REGULATORY FRAMEWORK, INITIAL UNEMPLOYMENT, FISCAL POLICY, SPARE CAPACITY, FINANCIAL INSTITUTIONS, CRUDE OIL PRICE, ECONOMIC POLICIES, INFLATION RATES, DOMESTIC DEMAND, RECYCLING, POWER, BORROWING, PRICE HIKE, UNEMPLOYMENT RATES, FEMALE LABOR, LABOR MARKETS, CURRENT ACCOUNT DEFICITS, FOREIGN INVESTMENT, PRICE OF OIL, DOWNSIDE RISKS, ROBUSTNESS CHECKS, GLOBAL DEMAND, PUBLIC INVESTMENT, LOCAL CURRENCY, OIL MARKETS, NET OIL, LABOR ORGANIZATION, AGGREGATE UNEMPLOYMENT, DOMESTIC CONDITIONS, ECONOMIC GROWTH, GROSS DOMESTIC PRODUCT, UNEMPLOYMENT REDUCTION, EMPLOYMENT GROWTH, DOMESTIC PRICE, EXTERNAL FINANCING, OIL EXPORTERS, DRIVERS, AGRICULTURAL PRODUCTION, DIESEL, ELECTRICITY TARIFFS, DOUBLE DIVIDEND, ECONOMIC CRISIS, FOOD PRICES, JOBS, OIL, ECONOMIC REGULATION, LABOR MARKET PERFORMANCE, POLITICAL STABILITY, CURRENT ACCOUNT BALANCES, BALANCE, ASSETS, OIL SUPPLIES, LABOR REGULATION, AVERAGE UNEMPLOYMENT, 330, SUPPLY SHOCKS, FOREIGN DIRECT INVESTMENT, EXPLANATORY VARIABLE, DEMOCRACY, DEVELOPMENT ECONOMICS, POLITICAL TURMOIL, SURPLUSES, REGULATORY FRAMEWORKS, WAGES, WORLD PRICES, LABOR MARKET, INCOME EARNING, PUBLIC EXPENDITURES, DECLINING UNEMPLOYMENT, PERSISTENT HIGH INFLATION, CRUDE OIL PRODUCTION, TURBULENCE, COMMODITY PRICE, OIL IMPORTERS, ECONOMIC DEVELOPMENT, PETROLEUM PRICE, BARRELS PER DAY, CRISES, FREE TRADE, INVESTMENT CLIMATE, ECONOMIC ACTIVITY, UNEMPLOYMENT BENEFITS, ELECTRICITY, ECONOMIC VULNERABILITY, MACROECONOMIC STABILIZATION, REGIONAL CRISES, MACROECONOMIC MANAGEMENT, OIL MARKET, ACCOUNTING, LIBERALIZATION, NATIONAL UNEMPLOYMENT RATES, AGGREGATE DEMAND, REMITTANCES, OIL EXPORTING COUNTRIES, STANDARD DEVIATION, VALUE INDEX, PRICE RIGIDITIES, INVESTMENT INFLOWS, OIL IMPORTING COUNTRIES, OIL PRICES, PUBLIC SECTOR EMPLOYMENT, INTERNATIONAL FINANCIAL INSTITUTIONS, ENERGY PRICES, PRIVATE SECTOR, OIL EXPORTS, CURRENT ACCOUNT, REGULATORY REFORMS, AGRICULTURAL OUTPUT, HIGHER ENERGY PRICES, IMPORTS, OIL SHOCKS, MACROECONOMIC POLICY, NATURAL GAS, COMMODITY MARKETS, OUTPUT GAPS, OIL REVENUES, OIL PRICE, ENERGY COSTS, SOCIAL BENEFITS, JOB CREATION, OIL PRODUCTION, DOMESTIC PRICE LEVELS, PRODUCTION DISRUPTIONS, LABOR FORCE, OIL COMPANIES, CAPITAL INFLOWS, PETROLEUM PRICES, DOMESTIC PRICES, STRUCTURAL REFORMS, FOREIGN CURRENCY, FOREIGN RESERVES, VOLATILE INTERNATIONAL
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