This report is produced two times per year, reporting on the recent economic developments and short term outlook of the Middle East and North Africa region. It is produced by the Chief Economist's office of the region (MNACE). These reports highlight a particular theme (such as fuel subsidies, service delivery, oil prices). This series was formerly known as MENA Economic Monitor, and before that, Middle East and North Africa Regional Economic Update, and combines with the series Middle East and North Africa Quarterly Economic Brief.
(Washington, DC: World Bank, 2018-04-16)
Arezki, Rabah; Mottaghi, Lili; Barone, Andrea; Fan, Rachel Yuting; Kiendrebeogo, Youssouf; Lederman, Daniel; Barone, Andrea
After a sharp fall in 2017, economic growth in MENA is projected to rebound to 3.1 percent in 2018, thanks
to the positive global outlook, oil prices stabilizing at relatively higher levels, stabilization policies and
reforms, and recovery and reconstruction as conflicts recede. The outlook for MENA remains positive, and
the growth rebound is expected to gain momentum over the next two years, exceeding 3 percent in 2020.
While stabilization policies have helped economies adjust in recent years, .a second phase of reforms is
needed should be transformative if the region is to reach its potential and create jobs for hundred million
young people who will enter the labor market in coming decades. In this report, we explore the role that
public-private partnerships can play. not only in providing an alternative source of financing but in helping
change the role of the state from the main provider of employment to an enabler of private sector activity.
Studies have shown that the gap between MENA economies and fast-growing ones is the performance of the
services sector. The disruptive technology offers new opportunities for boosting private-sector-led growth
through enhancement of high-tech jobs in the services sector. The report argues that combining the region's
fast-growing pool of university graduates and a heavy penetration of social media and smartphone, could
serve as the foundation for a digital sector that could create much-needed private sector jobs for the youth
over the next decade.
(Washington, DC: World Bank, 2017-04-17)
Devarajan, Shantayanan; Mottaghi, Lili
Plagued by war, violence and low oil prices, economic activity in the
Middle East and North Africa (MENA) region remained subdued between 2013 and 2015, but the situation is
expected to improve and growth to surge above 3 percent over the forecast period. Though still below
potential, the improvement in growth offers hope. We see signs of "green shoots" in some countries in the
region, therefore we have upgraded our short-term prospects for MENA from "cautiously pessimistic" to
"cautiously optimistic" over the forecast period. The prospects of peace in Syria, Yemen and Libya are one
of the keys to resuming growth over the next decade. But realizing that potential depends crucially on how
the post-conflict reconstruction is conducted. On the one hand, a well-managed process could help these
war-tom countries rebuild their shattered economies and re-integrate their people so that the region as a
whole, and possibly the rest of the world, benefits. On the other hand, a badly managed process can risk a
recurrence of conflict, continued stagnation and suffering, and perpetual fragility. The economics of postconflict
reconstruction, therefore, is critical to the future of MENA's economies.