The international monetary fund imf on monday hiked the uaes growth forecast for 2018 and 2019 on the back of higher oil prices, continued reforms to promote the private sector and increased. This issue discusses economic developments in the middle east, north africa, afghanistan, and pakistan menap, which continue to reflect the diversity of conditions prevailing across the region. Regional economic outlook, middle east and central asia, october 2015. For optimum experience we recommend to update your browser to the latest version. Payper download free or ad supported streaming content. Business insight webinar featuring amcham egypt ceo and deputy chairman of the federation of egyptian industries online march 18, 2015. Imf slashes uae, global growth forecast news khaleej times. Mena countries gross domestic product gdp per capita 2018.
Unlocking economic potential in the middle east amcham mena council forum march 1516 manama, bahrain amcham bahrain takes on the chairmanship of the mena council 20162018. We are pleased to present the 2015 edition of the annual mena reinsurance barometer, covering the middle east north africa mena region, including turkey. Oilexporting countries, including nigeria and angola, have been hit hard by falling revenues and the resulting fiscal adjustments, while. Presentation of the 2015 regional economic outlook for the middle east and north africa. World economic and financial surveys regional economic outlook. The last eight years have been challenging for the middle east and north africa mena region. The international monetary fund mf on tuesday revised the uaes growth outlook downward, in line with a cut in global forecasts for 2019 and 2020, according to the latest world economic outlook. Imf world economic outlook weo update, january 2015. Recent indicators paint a story of economic recovery. This statistic shows the average current accounts balance as share of gdp in selected middle eastern and north african countries from 2015 to 2019. World economic outlook database international monetary fund. In response to the regions changing circumstances, the world bank group launched in 2015 a new strategy entitled economic and social inclusion for peace and stability in the middle east and north africa. Imf executive board discussion of the outlook, september 2015.
Jihad azour countries of the middle east and north africa mena continue to face the challenge of generating inclusive and longlasting growth in the environment of low oil prices, ongoing conflicts, and concerns regarding regional security. Mena countries national debt in relation to gdp 2018. At a share of less than 16%, life business continues to play a relatively minor role in comparison with its global share of 56%. From the mena growth outlook and the future of mobile computing to special moustaches and why pork is the worlds most divisive meat. Gdp is the total value of all goods and services produced in a country in a year. Middle east and central asia economic outlook imf data. The mena economic update previously known as mena economic monitor supplements the world bank s biannual mena quarterly economic brief and presents the short term, macroeconomic outlook and economic challenges facing the countries in the middle east. The world economic outlook weo database contains selected macroeconomic data series from the statistical appendix of the world economic outlook report, which presents the imf staffs analysis and projections of economic developments at the global level, in major country groups and in many individual countries.
Imf world economic outlook october 2015, is an economic publication that is issued by international monetary fund imf, containing annual data. Countries of the middle east and central asia region have been hit by two. Mena region, the average share of premiums nonlife and life in regional gdp is about. The world economic outlook weo database is created during the. The slowdown in the mena region is expected to have bottomed out last year, and the region is now enjoying a welcome period of healthy growth. Jan 19, 2016 middle east and central asia regional economic outlook jacques charaoui, imf 1. Imf downgrades global economic outlook again agency cuts 2015 global growth view to 3.
The international monetary fund imf released its world economic outlook weo report for april 2018. In this context, the imf has been providing emergency assistance to help countries in the region during these challenging times. Sep 20, 2017 the imfs outlook for the mena region has become over the years some sort of a report of a years economic policy result assessment of each country. These files may be downloaded for use in a variety of software packages. The analysis and projections contained in the mcd reo are integral elements of the departments surveillance of economic developments and policies in 31 member countries.
Dec 06, 2019 the statistic shows gross domestic product gdp per capita in the mena countries in 2018. Any difficulties shifting to a new model could pose a risk to the global economic outlook, the imf said, predicting 6. In addition, economic activity in the nonoil sector is picking up due to improved global demand. Middle east and north african economies, afghanistan, and pakistan. The survey is based on indepth interviews with senior executives of 32 regional and international reinsurance companies, ceding companies and intermediaries operating in the mena region. The statistic shows the national debt of countries in the mena region of north africa and asia in relation to gross domestic product gdp in 2018. Growth in subsaharan africa has weakened after more than a decade of solid growth, although this overall outlook masks considerable variation across the region. Imf videos presentation of the 2015 regional economic. Imf 2014 report on diversification in the gcc, hsbc global research ceemea economics 2q15.
Although it has one of the fastest growing populations in the world, the mena region is expected to see its relative size. World economic outlook international monetary fund. This year, inflation is seen rising slightly as price pressures recover in gcc countries, although weak economic momentum and low oil prices will cap the increase. Middle east and central asia reo is prepared annually by the imfs middle east and central asia department mcd. This statistic shows gross domestic product gdp of the mena countries in 2018. Imf world economic outlook october 2015 document library. The world economic outlook weo database contains selected macroeconomic data series from the statistical. An international monetary fund report from 2015 stated that chinas debt is relatively low, and many economists have dismissed worries over the size of the debt both in its overall size and relative to chinas gdp.
Regional economic outlook, october 2015 imf elibrary. World bank world development indicators mena gdp, gdp per capita and gdp growth 2015 1. Imf blog insights and analysis on economics and finance. Graph and download economic data for nonoil real gdp growth in constant prices for iraq irqngdpxorpchpt from 2000 to 2020 about nonoil, iraq, reo, real, gdp, and rate.
The imf has altered its outlook on africa, this is whats. The statistic shows gross domestic product gdp per capita in the mena countries in 2018. Industry outlook on tveverywhere in the middle east 5. Compared with the april 2015 projections, the outlook for 2015 is weaker, reflecting the collapse in activity in yemen and a further decline in gdp in libya, but looks stronger for 2016, primarily on account of the improved prospects for the islamic republic of iran. In october, the international monetary fund imf set its 2015 forecast at 3. To download a soft copy of the report, please visit qfc. Mena state budgets and world bank annual reports, imf 2014 report on diversification in the gcc, hsbc global research ceemea economics 2q15 gcc public spending has continued on an upward trajectory since 2007, doubling to c. Favorable momentum should get stronger in 2h15 at a time when us monetary. Asia and the pacific remains the global growth leader, albeit with a moderated pace of expansion since the global financial crisis. Regional economic outlook international monetary fund. Growth remained tepid across the middle east and north africa mena in 2014 amid declining oil prices, raging conflicts, and continued policy uncertainty. Global growth remains moderate, with uneven prospects across the main countries and regions. The mena economic update previously known as mena economic monitor supplements the world bank s biannual mena quarterly economic brief and presents the short term, macroeconomic outlook and economic challenges facing the countries in the middle east and north africa region.
Significant oil 52% of the estimated world total and gas. Created in 1946 with 46 members, it has grown to include 189 countries. World economic outlook databases international monetary fund. Published every year based on objective data and dispassionate analysis, the world energy outlook weo provides critical analysis and insights on trends in energy demand and supply, and what they mean for energy security, environmental protection and economic development the first weo was published in 1977 and it has been an annual publication since 1998. Meed imf cuts growth forecasts for middle east oil producers. Fiscal adjustment to lower oil prices in mena and cca oil exporters. This book explores the political motivations for imf and world bank funding in mena looking at both geo. The views expressed are those of the authors and do not necessarily represent the views of the imf and its executive board.
Imf cuts world economic outlook for 2015 usa today. Risks to mena s 2018 economic outlook appear to be broadly balanced. Ifc mena supports the regions private sector by helping create jobs and drive sustainable and inclusive growth through a combination of investments and advisory services. The imf s outlook for the mena region has become over the years some sort of a report of a years economic policy result assessment of each country. Imf world economic outlook weo, april 2015 table of contents.
The world energy outlook series is a leading source of strategic insight on the future of energy and energyrelated emissions, providing detailed scenarios that map out the consequences of different energy policy and investment choices. Usd570bn by 2014 infrastructure development across the gcc grew by 10%. Middle east and central asia regional economic outlook. The weo is released in april and septemberoctober each year. Imf world economic database world economic outlook reports. Most highincome oil exporters, primarily in the gcc, continue to record steady growth and solid economic and financial fundamentals, albeit with mediumterm challenges that need to be addressed. Wednesday, april 15, 2015 imf world economic outlook. Middle east and central asia reo is prepared annually by the imf s middle east and central asia department mcd. The international monetary fund imf is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Some countries have been negatively affected by falling prices of their main commodity exports.
Imf data from the april 2018 imf world economic outlook database world output imf world economic outlook click to enlarge. Entitled cyclical upswing, structural change, the largely positive report notes that global economic growth has not been this strong and broadbased since the sharp 2010 bounceback following the 200809 financial crisis. Annual growth between 2009 and 2015 was 2 percentage points below the precrisis rate, and the regions longterm growth prospects have significantly declined. Generally, and despite the ongoing unrest in parts of the arab world and in its neighbouring countries, the nearterm economic outlook is very much subject to uncertainties of the global economy. Industry outlook on tveverywhere in the middle east.
Middle east and central asia regional economic outlook jacques charaoui, imf 1. The middle east and central asia regional economic outlook reo is prepared annually by the imf s middle east and central asia department mcd. Opecs agreement in september 2016 to cut production will hopefully lead to increased oil revenues for oil exporters. The mena region in north africa and the middle east comprises the countries algeria, bahrain, egypt, iran, iraq. While growth could be stronger if reduced trade tensions mitigate uncertainty, the balance of risks is to the downside.
The mission of the imfs middle east center for economics and finance cef in kuwait is to build capacity through handson training for policy makers from the arab league countries, as well as to lead conferences, symposia and seminars geared at strengthening the design and implementation of sound economic policies in the region. Nonoil real gdp growth in constant prices for iraq. Mena s fundamentals and mid to long term outlook remain positive. The spring meetings will take place virtually on april 1417, 2020. Imfblog is a forum for the views of the international monetary fund imf staff and officials on pressing economic and policy issues of the day. Mena countries gross domestic product gdp per capita. One of the mena regions brightest spots will be egypt, which the imf forecasts as likely to report real gdp growth of 5. International monetary fund imf middle east center for. The release calendar provides release dates for statistical datasets eg.
List of imf ranked countries by past and projected gdp nominal. Publication orders may be placed online, by fax, or through the mail. Dec 11, 2018 one of the mena regions brightest spots will be egypt, which the imf forecasts as likely to report real gdp growth of 5. A snapshot of the middle east north africa mena for tveverywhere population, mena, 20.
The world economic outlook weo is a survey by the imf staff published twice a year, in the spring and fall. Middle east and central asia regional economic outlook december 2015 jacques charaoui 2. Automatic fuel price adjustment mechanism planned for first half of 2015. The weo is prepared by the imf staff and has benefited. Lowincome countries lics in the middle east and north africa mena and latin america and the carribean lac have not enjoyed the same success in integrating into global trading networks. We are pleased to present the 2015 edition of the annual mena reinsurance barometer, covering the middle east north africa mena. The revisions reflect a reassessment of prospects in china, russia, the euro area, and japan as well as weaker activity in some major oil exporters because of the sharp drop in oil prices. The impact on growth in the middle east, north africa, afghanistan, and pakistan menap region from global headwinds remains muted thus. Imf cuts global growth outlook, calls for accommodative. As defined by the imf, the only lic in europe is moldova, which is structurally very different from subsaharan african lics. International monetary fund, publication services p. Roadmap regional themes menap oil exporters menap oil importers 3. Confronting the covid19 pandemic in the middle east and central.