Middle East Economies to Rebound, Risks Remain, World Bank Says

* username: rupertbu

Economic growth in the Middle East and North Africa, the world’s biggest net oil-exporting region, may rebound to 3.7 percent this year and 4.4 percent in 2011, the World Bank said.

Growth will accelerate from an estimated 2.9 percent in 2009 after the global credit crisis sent oil prices tumbling, the Washington-based bank said in its Global Economic Prospects report on its Web site today. Growth was 4.3 percent in 2008, the bank said.

“Stronger global activity should allow for crude oil and gas production to return to positive growth, implying moderate revenue gains,” the World Bank said.