Regional Economic Outlook, Middle East and Central Asia, April 2024: An Uneven Recovery amid High Uncertainty

Author: International Monetary Fund. Middle East and Central Asia Dept.

With ongoing conflicts, shipping disruptions, and reduced oil production, uncertainty is rising in the Middle East and Central Asia. Economic growth is projected to be uneven between the two regions in 2024.

Publication date: April 2024

ISBN: 9798400272356

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Topics covered in this book

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Exports and Imports , Finance , Inflation , Economics- Macroeconomics , International - Economics , Trade , trade disruptions , trade diversion , trade dynamics , conflict , geoeconomic fragmentation , global value chains , policy actions , IMF staff calculation , MENA country , ME&CA economy , heightened transit trade diversion , oil exporter , trade diversion reshaping trade , headline inflation , Current account balance , Trade balance , Fiscal stance , Exports , Inflation , Middle East and Central Asia , Middle East , Central Asia and the Caucasus , North Africa , East Africa

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Regional Economic Outlook, October 2017, Middle East and Central Asia

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Regional Economic Outlook: Sub-Saharan African - Subscription

Summary

The Middle East and North Africa and the Caucasus and Central Asia regions are positively impacted by the resilience of the global economy. Lower global commodity prices and vigilant policy responses have helped ease inflation in most countries. However, uncertainty and risks have risen amid ongoing conflicts, shipping disruptions, and reduced oil production. This is leading to an uneven recovery across the Middle East and Central Asia, with growth rates varying this year. Policymakers need to ensure economic stability and debt sustainability while navigating geopolitical risks and improving medium-term growth prospects. Amid high uncertainty, it is essential that countries implement reforms to enhance their fundamentals, including by strengthening institutions. Additionally, countries can seize potential economic opportunities amid shifting trade patterns by reducing long-standing trade barriers, diversifying products and markets, and improving infrastructure.