IMF sees improved near-term outlook for MENA

To track the evolution of economic activity in the Middle East and North Africa (MENA), the International Monetary Fund (IMF) publishes the Regional Economic Outlook (REO). The report sees a recovery in oil production and robust expansion of the non-oil sectors will boost growth in the oil-exporting countries. The oil-importing countries will benefit from stronger demand growth in the key trading partners, particularly Europe and the Gulf, as well as nascent increases in investment as political transitions progress and reforms start bearing fruit. 

Yet high political uncertainty and spillovers from regional conflicts will continue to weigh on economic activity in the oil-importing countries, and economic growth will remain too low to make a dent in high unemployment and improve living standards. Across the region, deeper economic transformations are necessary to raise potential growth, make it more inclusive and create enough jobs for the rapidly growing labor force, while strengthening policy buffers to deal with unanticipated shocks. 
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