Publication - IMF COUNTRY FOCUS -
Middle East, North Africa, Afghanistan, and Pakistan: Take Advantage of Strengthening Global Economy -
By Boaz Nandwa and Magali Pinat
Middle East and Central Asia Department
Despite the strengthening global recovery, MENAP’s economic outlook remains relatively subdued owing to the adjustment to low oil prices and regional conflicts. For MENAP oilexporting countries, spillovers from the low oil price environment and fiscal adjustment continue to weigh on non-oil growth, while overall growth is also held down by the Organization of the Petroleum Exporting Countries (OPEC)- led agreement to reduce oil production.