Middle East and North Africa Economic Developments and Prospects, 2009 : Navigating through the Global Recession
The objective of this 2009 Middle East and North Africa (MENA) economic developments and prospects is to review the implication of the triple food-fuel-financial crisis for MENA economies. Chapter one reviews the year 2008 and the first few months...
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| Format: | Economic Updates and Modeling |
| Language: | English en_US |
| Published: |
Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2009/01/11522490/middle-east-north-africa-region-2009-economic-developments-prospects-navigating-through-global-recession http://hdl.handle.net/10986/16806 |
| Summary: | The objective of this 2009 Middle East
and North Africa (MENA) economic developments and prospects
is to review the implication of the triple
food-fuel-financial crisis for MENA economies. Chapter one
reviews the year 2008 and the first few months of 2009. It
discusses the impact of the global economic environment and
MENA countries' responses to the initial impact of the
food-fuel-financial crises. Chapter two reviews MENA
countries' prospects for 2009 and 2010 and discusses
policies that can be envisaged to mitigate the impact of the
global financial crisis on the region. Finally, chapter
three goes beyond the short-term concerns about the current
crisis and discusses structural factors that affect MENA
countries' vulnerability to shocks and their
flexibility and ability to respond to future crises. The
main conclusions of the report are: (a) the effect of the
crisis depends on countries' exposure to affected
markets and commodities as well as on their initial
macroeconomic conditions and policies; and (b) in terms of
impact on the real economy, the MENA region held up well in
2008, with average Gross Domestic Product (GDP) growth
remaining steady while other regions experienced declining growth. |
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