Publication:
Middle East and North Africa Economic Update, April 2010: Recovering from the Crisis

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dc.contributor.authorCarey, Kevin
dc.contributor.authorIanchovichina, Elena
dc.contributor.authorSpivak, Nadia
dc.contributor.authorMottaghi, Lili
dc.contributor.authorFarazi, Subika
dc.contributor.authorSilwal, Ani
dc.date.accessioned2016-03-30T20:02:57Z
dc.date.available2016-03-30T20:02:57Z
dc.date.issued2010-04-01
dc.description.abstractThis edition of the Middle East and North Africa (MENA) regional economic update concerns the region recovering from the financial crisis along with the global economy. Growth in 2010 is expected to be 4.4 percent region-wide, driven by domestic absorption as well as a positive contribution from external demand. The recovery from the crisis differs by country depending on initial conditions and the intensity of the impact via the three principal channels through which the global financial crisis affected MENA economies-the financial sector, the price of oil, and the balance of payments, reflecting the impact on trade, remittances and Foreign Direct Investment (FDI) flows. The Gulf Cooperation Council (GCC) countries are leading the regional recovery as oil prices have rebounded and the GCC financial sector is stabilizing. Developing oil exporters felt the impact of the crisis, and now the recovery, largely through the oil price channel, due to the limited integration of their banking sectors into global financial markets and the importance of oil in their exports. The oil importers were affected by the crisis through the secondary effects on trade, remittances, and FDI flows, so their recovery will depend crucially on the recovery in key markets, especially the EU and the GCC countries. High unemployment has been a problem in MENA for years, and the crisis has dimmed prospects for improvements in the near term. Ample oil and gas resources, a youthful and growing workforce, and a growing momentum to look for ways to diversify their economies imply that the growth potential of the region is high, but MENA countries continue to face formidable longer term challenges. Ensuring access to finance without compromising financial stability will be a major challenge in MENA, although issues related to weak regulatory systems, corporate governance and overdependence on the banking system also loom large. Key problems of the business environment in MENA include policy and regulatory uncertainty and discretion in implementing reforms which prevent a level playing field for all firms and encourage the pursuit of privileged access. These problems, coupled with barriers to entry and exit, have created an environment of stagnation. Addressing these issues will require applying rules and regulations consistently and without discrimination among firms and introducing reforms that promote business dynamism, private investment, and innovation.en
dc.identifierhttp://documents.worldbank.org/curated/en/2010/04/12514848/world-bank-middle-east-north-africa-region-regional-economic-update-recovering-crisis
dc.identifier.doi10.1596/23977
dc.identifier.urihttps://hdl.handle.net/10986/23977
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE SHEETS
dc.subjectBANK CREDITORS
dc.subjectBANK PROFITABILITY
dc.subjectBANKING SECTOR
dc.subjectBANKING SECTORS
dc.subjectBANKING SYSTEM
dc.subjectBARRIERS TO ENTRY
dc.subjectBASIS POINTS
dc.subjectBOND
dc.subjectBORROWING COSTS
dc.subjectBRANCH NETWORKS
dc.subjectCAPITAL FLOWS
dc.subjectCDS
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANKS
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMODITY PRICES
dc.subjectCONSUMER PRICE INDEX
dc.subjectCORPORATE GOVERNANCE
dc.subjectCOUNTRY DEBT
dc.subjectCOUPON
dc.subjectCOUPON PAYMENT
dc.subjectCPI
dc.subjectCREDIT DEFAULT
dc.subjectCREDIT DEFAULT SWAP
dc.subjectCREDIT DEFAULT SWAPS
dc.subjectCREDIT GROWTH
dc.subjectCREDIT RISK
dc.subjectCREDITOR
dc.subjectCREDITOR CLAIMS
dc.subjectCREDITORS
dc.subjectCURRENT ACCOUNT SURPLUSES
dc.subjectDEBT
dc.subjectDEBT CRISIS
dc.subjectDEBT FINANCING
dc.subjectDEBT FLOWS
dc.subjectDEBT ISSUES
dc.subjectDEBT MARKETS
dc.subjectDEBT OVERHANG
dc.subjectDEBT RESTRUCTURING
dc.subjectDEBT STOCK
dc.subjectDEBTS
dc.subjectDEMAND FOR CREDIT
dc.subjectDEPOSIT
dc.subjectDEPOSIT ACCOUNT
dc.subjectDEPOSIT ACCOUNTS
dc.subjectDEPOSITS
dc.subjectDEVELOPED COUNTRIES
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDOMESTIC BANKING
dc.subjectDOMESTIC BANKS
dc.subjectDOMESTIC BORROWING
dc.subjectDOMESTIC CURRENCY
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC DEBT MARKETS
dc.subjectDOMESTIC FINANCIAL MARKETS
dc.subjectDOMESTIC MARKETS
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC EFFICIENCY
dc.subjectECONOMIC GROWTH
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKETS
dc.subjectEQUITY MARKETS
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORT GROWTH
dc.subjectEXPORT SHARES
dc.subjectEXPORTERS
dc.subjectEXTERNAL DEBT
dc.subjectFACE VALUE
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL INFRASTRUCTURE
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL RESOURCES
dc.subjectFINANCIAL SECTOR INDICATORS
dc.subjectFINANCIAL SHOCK
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL SUPPORT
dc.subjectFINANCIAL SYSTEM
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFOREIGN BANK
dc.subjectFOREIGN BANK PARTICIPATION
dc.subjectFOREIGN DEBT
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE RESERVES
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBAL TRADE
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT GUARANTEES
dc.subjectGOVERNMENT SPENDING
dc.subjectGOVERNMENT SUPPORT
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHIGH UNEMPLOYMENT
dc.subjectHOLDING
dc.subjectHOUSEHOLD INCOMES
dc.subjectIMPLICIT SOVEREIGN GUARANTEE
dc.subjectINCOME GROWTH
dc.subjectINFLATION
dc.subjectINFLATION INDEX
dc.subjectINFLATIONARY PRESSURES
dc.subjectINFORMATION ASYMMETRIES
dc.subjectINFRASTRUCTURE DEVELOPMENT
dc.subjectINFRASTRUCTURE INVESTMENTS
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINTEREST RATE
dc.subjectINTERMEDIATE INPUTS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL DEBT
dc.subjectINTERNATIONAL DEBT MARKETS
dc.subjectINTERNATIONAL FINANCIAL MARKETS
dc.subjectINTERNATIONAL FINANCIAL STATISTICS
dc.subjectINTERNATIONAL MARKETS
dc.subjectINVENTORIES
dc.subjectINVENTORY
dc.subjectINVESTMENT ACTIVITY
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT OPPORTUNITIES
dc.subjectINVESTMENT PROJECTS
dc.subjectINVESTMENT RATES
dc.subjectINVESTOR CONFIDENCE
dc.subjectISLAMIC BANKS
dc.subjectISLAMIC BONDS
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLEGAL PROTECTION
dc.subjectLEGAL RIGHTS
dc.subjectLEVEL PLAYING FIELD
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY RISKS
dc.subjectLOAN
dc.subjectLOAN RATES
dc.subjectMARKET ANALYSTS
dc.subjectMARKET DEVELOPMENTS
dc.subjectMARKET DISCIPLINE
dc.subjectMARKET PARTICIPANTS
dc.subjectMARKET PLAYERS
dc.subjectMATURITY
dc.subjectMETALS
dc.subjectMICROFINANCE
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICIES
dc.subjectNEGATIVE SHOCK
dc.subjectNON PERFORMING LOANS
dc.subjectNONPERFORMING LOAN
dc.subjectNPL
dc.subjectOIL
dc.subjectOIL BOOM
dc.subjectOIL PRICE
dc.subjectOIL PRICES
dc.subjectOPEC
dc.subjectPENSION
dc.subjectPENSION FUNDS
dc.subjectPOLICY RESPONSES
dc.subjectPOPULATION GROWTH
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO FLOWS
dc.subjectPORTFOLIOS
dc.subjectPOST-CRISIS PERIOD
dc.subjectPRICE INDEXES
dc.subjectPRICE VOLATILITY
dc.subjectPRIVATE BANKS
dc.subjectPRIVATE CONSUMPTION
dc.subjectPRIVATE DEBT
dc.subjectPRIVATE DEBT FLOWS
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE SECTOR CREDIT
dc.subjectPRODUCERS
dc.subjectPRODUCTIVE INVESTMENTS
dc.subjectPROVISIONING RULES
dc.subjectPRUDENTIAL SUPERVISION
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC INVESTMENTS
dc.subjectPUBLIC REGISTRY
dc.subjectPUBLIC SPENDING
dc.subjectPURCHASING POWER
dc.subjectREAL ESTATE LENDING
dc.subjectREGULATORY STRUCTURES
dc.subjectREGULATORY SYSTEMS
dc.subjectREMITTANCE
dc.subjectREMITTANCE SERVICE
dc.subjectREMITTANCES
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectRISK AVERSION
dc.subjectRISK MANAGEMENT
dc.subjectRISK MANAGEMENT SYSTEMS
dc.subjectRISK PREMIUMS
dc.subjectSECURITIES
dc.subjectSETTLEMENT
dc.subjectSOLVENCY
dc.subjectSTATE BANKS
dc.subjectSTOCK MARKET
dc.subjectSTOCK MARKET CAPITALIZATION
dc.subjectSTOCK MARKET INDEX
dc.subjectSTOCK MARKETS
dc.subjectSTOCKS
dc.subjectSTRUCTURAL PROBLEMS
dc.subjectSUKUK
dc.subjectSWAP
dc.subjectTAX
dc.subjectTERMS OF TRADE
dc.subjectTRADABLE DEBT
dc.subjectTRADE CREDIT
dc.subjectTRADE CREDITORS
dc.subjectTRADE FINANCE
dc.subjectTRADE LIBERALIZATION
dc.subjectTRANSACTION
dc.subjectTRANSACTION COSTS
dc.subjectTREASURIES
dc.subjectUNEMPLOYMENT RATES
dc.subjectWORKING CAPITAL
dc.titleMiddle East and North Africa Economic Update, April 2010en
dc.title.alternativeBanque Mondiale region du Moyen-Orient et D'Afrique du Nord : bilan economique regional - sur la voie de la relanceen
dc.title.subtitleRecovering from the Crisisen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.date.disclosure2010-07-07
okr.date.doiregistration2025-05-09T11:09:00.479483Z
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/2010/04/12514848/world-bank-middle-east-north-africa-region-regional-economic-update-recovering-crisis
okr.guid143931468299191015
okr.guid826971468052140977
okr.guid579241468275087175
okr.identifier.externaldocumentum000333037_20100707003731
okr.identifier.internaldocumentum12514848
okr.identifier.report54511
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/07/07/000333037_20100707003731/Rendered/PDF/545110WP0REPLA1risis0pub05112110web.pdfen
okr.region.administrativeMiddle East and North Africa
okr.sectorPublic Administration, Law, and Justice
okr.themeEconomic management :: Analysis of economic growth
okr.themeEconomic management :: Macroeconomic management
okr.topicEnvironment::Environmental Economics & Policies
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicMacroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topicMacroeconomics and Economic Growth::Economic Conditions and Volatility
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.unitOffice of the Chief Economist (MNACE)
relation.isAuthorOfPublication814995f9-044c-566a-9355-890a6ac260ae
relation.isAuthorOfPublication4e062ce1-f588-5067-9d86-7e1de94e72cc
relation.isAuthorOfPublication.latestForDiscovery4e062ce1-f588-5067-9d86-7e1de94e72cc
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