world bank report shows signs of economic recovery in middle east
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

World Bank report shows signs of economic recovery in Middle East

Arab Today, arab today

Arab Today, arab today World Bank report shows signs of economic recovery in Middle East

World Bank
WASHINGTON - Arab Today

Despite a growth slowdown in 2017 at 2.1 percent, economic prospects in the Middle East and North Africa, MENA, region are projected to improve in 2018 and 2019 with growth exceeding 3 percent, according to the new World Bank MENA Economic Monitor, entitled "Refugee Crisis in MENA, Meeting the Development Challenge".

Both MENA’s oil exporters and oil importers will benefit from a steady improvement in global growth, increased trade with Europe and Asia, more stable commodity markets, especially oil, and reforms undertaken in some of the countries in the region.

"The short-term prospects of economic recovery are contingent on several factors, including the uncertainty arising from prolonged conflicts in the region and the massive numbers of forcibly displaced persons" said Lili Mottaghi, World Bank Economist and the report lead author. "MENA countries need to adopt the right mix of policies to grow faster, including reforms to diversify the economies and strengthen the business environment to unleash the potential of the private sector."

The report analyses the impact of the region’s ongoing instability on growth prospects, with performance half below pre-2011 levels, making it difficult to address youth unemployment and the needs of refugees across the region as conflicts continue.

"Because the legacy of conflicts tend to lower growth prospects, both the private and public sector will need to be more agile and combine their efforts to chart a new path," said Rabah Arezki, World Bank MENA Chief Economist.

By the end of 2016, over 5.4 million Syrians were registered refugees, concentrated at 75 percent in Lebanon and Jordan. The report highlights the impact of the massive scale of inflows of refugees on host countries and suggests pathways to support countries facing the increasing pressure on public finances and services while maintaining their macro-economic stability. The report suggests that there is a need to transition from humanitarian to development aid and develop more robust statistics to monitor refugees’ welfare and international assistance.

"In addition to meeting their immediate needs for food and shelter, refugees need education to build their human capital and jobs to preserve their dignity, and prepare them to return to their home countries when stability is restored. This is a global responsibility," said Hafez Ghanem, World Bank Vice-President for the MENA region.

"The donor community, including the World Bank is stepping up its efforts to achieve this goal and mobilise concessional financing to support host countries meet the increased development demand" he added.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

world bank report shows signs of economic recovery in middle east world bank report shows signs of economic recovery in middle east

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

world bank report shows signs of economic recovery in middle east world bank report shows signs of economic recovery in middle east

 



GMT 12:47 2016 Thursday ,01 September

'La La Land' musical masterpiece dazzles Venice film fest

GMT 12:42 2017 Monday ,20 February

Dalia al-Behairy begins 'Yawmiyat Zoga Mafrosa'

GMT 19:01 2017 Wednesday ,30 August

Oil prices down as US reels from Harvey

GMT 04:19 2017 Monday ,08 May

National forces attack mercenaries in Taiz

GMT 19:21 2017 Sunday ,07 May

Iranian Film Week opens in Baghdad

GMT 21:33 2017 Sunday ,30 July

Arab Quartet meeting kicks off in Bahrain

GMT 17:17 2016 Friday ,07 October

Aleppo bleeds as US and Russia spar

GMT 12:03 2015 Monday ,21 December

Nepal protester killed in constitutional crisis clash

GMT 09:47 2016 Thursday ,22 December

Trump vows to cut F-35 spending, as leaked memo

GMT 21:44 2017 Friday ,15 December

King establishes Hawar Development Committee

GMT 20:57 2017 Tuesday ,16 May

Naval Forces rescue 23 tourists in Hurghada

GMT 12:56 2017 Monday ,11 December

Lyon leave it late, Balotelli with Nice winner

GMT 06:18 2017 Thursday ,19 October

Russian delegation meets with Julphar chairman

GMT 21:20 2017 Monday ,23 October

Nasr, delegation of London Stock Exchange

GMT 14:40 2012 Saturday ,10 March

Magdy Al-Galad steps down

GMT 09:47 2017 Sunday ,12 March

Cat Camp in New York attracts cat lovers

GMT 14:57 2016 Friday ,09 September

Madonna, Ritchie settle child custody dispute

GMT 23:52 2017 Monday ,18 September

UAE economic growth boosting logistics sector
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday