Saturday 25 May 2013

Economic growth moderates across Middle East - Business Intelligence Middle East - bi-me.com - News, analysis, reports

"Differences in economic growth across the Middle East and North Africa (MENA) region are expected to narrow in 2013, though economic conditions in the oil exporters and importers are still quite different, says the IMF in its latest Regional Economic Outlook Update, which predicts growth will reach about 3.1 percent this year.

The healthy growth rates of the region’s oil exporters—Algeria, Bahrain, Iran, Iraq, Kuwait, Libya, Oman, Qatar, Saudi Arabia, the United Arab Emirates, and Yemen—are projected to moderate from an average of 5.7 percent in 2012 to 3.2 percent in 2013 (see table). This is mainly due to a scaling back of increases in oil production amid modest global demand.

By contrast, the region’s oil importers—Afghanistan, Djibouti, Egypt, Jordan, Lebanon, Mauritania, Morocco, Pakistan, Sudan, and Tunisia—face a difficult external environment. On average, this group of countries is projected to post moderate growth of 3 percent this year. In the Arab countries in transition, continued political uncertainty is also holding back growth."

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