Middle East and North Africa Economic Monitor, October 2017 : Refugee Crisis in MENA, Meeting the Development Challenges
The pickup in economic activity in the Middle East and North Africa (MENA) region is expected to continue in 2018 and 2019. MENA's oil exporters and oil importers both are benefitting from improved global growth; increased trade with trading partners in Europe and Asia; more stabilized commo...
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| Language: | English en_US |
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Washington, D.C.: World Bank
2017
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| Online Access: | http://hdl.handle.net/10986/28395 |
| Summary: | The pickup in economic activity in the Middle East and North Africa
(MENA) region is expected to continue in 2018 and 2019. MENA's oil exporters and oil importers
both are benefitting from improved global growth; increased trade with trading partners in Europe
and Asia; more stabilized commodity markets, especially oil; and some reforms undertaken in the
region. The World Bank estimates that growth will accelerate to above 3 percent in 2019. Growth,
however, remains below potential as crises and conflicts continue to damage output and reduce
employment. While MENA has experienced more frequent conflicts than any other part of the world,
by its magnitude, the refugee crisis represents something new. The protracted stay of refugees in
hosting communities, now in its sixth year, not only has increased the risk to MENA's economic
outlook but also has brought refugees' long-term development challenges to the forefront. Meeting
these enormous challenges requires collective efforts. |
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