Harnessing the Global Recovery, A Tough Road Ahead

Many countries in Middle East and North Africa (MENA) will start to benefit from stronger external demand in the high-income economies, as the global economy is set for a rebound in 2014. After a marked slowdown in 2013, a recovery in high income e...

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Main Author:	World Bank
Format:	Economic Updates and Modeling
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	AVERAGE INCOMES BUDGET DEFICIT BUDGET DEFICITS CASH TRANSFERS CENTRAL BANK COMMODITIES COMMODITY COMMODITY PRICES COPYRIGHT CLEARANCE COPYRIGHT CLEARANCE CENTER COUNTRY SPECIFIC CREDIT GROWTH CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICITS DEVELOPING COUNTRIES DEVELOPING REGIONS DIVERSIFICATION DOMESTIC SECURITY ECONOMIC ACTIVITY ECONOMIC PERFORMANCE EMPLOYMENT EXPORTERS EXPORTS EXTERNAL FINANCING EXTERNAL SHOCKS EXTREME POVERTY FISCAL DEFICIT FISCAL DEFICITS FLOW OF FUNDS FOREIGN DIRECT INVESTMENT FOSTER COMPETITION GINI COEFFICIENT GLOBAL ECONOMY GLOBAL OUTPUT GOVERNMENT SPENDING GROWTH RATE GROWTH RATES HOLDING INCOME INCOME GROWTH INCOME INEQUALITY INCOMES INFLATION INFLATION RATE INTANGIBLE INTERNATIONAL BANK LABOR FORCE LABOR MARKETS LOW INFLATION MIDDLE-INCOME COUNTRIES MONETARY POLICIES NATURAL CAPITAL OIL EXPORTERS OIL PRICE OIL PRICES POVERTY LINE POVERTY RATE PUBLIC DEBT PUBLIC INVESTMENT PUBLIC SECTOR RAPID GROWTH REAL GDP REMITTANCES RESERVES RICH COUNTRIES SAVINGS SECTOR ACTIVITY SOCIAL PROTECTION STRUCTURAL PROBLEMS SUBSIDIARY SUPPLY SHOCK SUSTAINABLE GROWTH TRADING TRANSITION COUNTRIES UNEMPLOYMENT UNEMPLOYMENT RATE VOLATILITY WAGES WEALTH
Online Access:	http://documents.worldbank.org/curated/en/2014/04/19335869/regional-economic-update-harnessing-global-recovery-tough-road-ahead http://hdl.handle.net/10986/17789

id	okr-10986-17789
recordtype	oai_dc
spelling	okr-10986-177892021-04-23T14:03:40Z Harnessing the Global Recovery, A Tough Road Ahead World Bank AVERAGE INCOMES BUDGET DEFICIT BUDGET DEFICITS CASH TRANSFERS CENTRAL BANK COMMODITIES COMMODITY COMMODITY PRICES COPYRIGHT CLEARANCE COPYRIGHT CLEARANCE CENTER COUNTRY SPECIFIC CREDIT GROWTH CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICITS DEVELOPING COUNTRIES DEVELOPING REGIONS DIVERSIFICATION DOMESTIC SECURITY ECONOMIC ACTIVITY ECONOMIC PERFORMANCE EMPLOYMENT EXPORTERS EXPORTS EXTERNAL FINANCING EXTERNAL SHOCKS EXTREME POVERTY FISCAL DEFICIT FISCAL DEFICITS FLOW OF FUNDS FOREIGN DIRECT INVESTMENT FOSTER COMPETITION GINI COEFFICIENT GLOBAL ECONOMY GLOBAL OUTPUT GOVERNMENT SPENDING GROWTH RATE GROWTH RATES HOLDING INCOME INCOME GROWTH INCOME INEQUALITY INCOMES INFLATION INFLATION RATE INTANGIBLE INTERNATIONAL BANK LABOR FORCE LABOR MARKETS LOW INFLATION MIDDLE-INCOME COUNTRIES MONETARY POLICIES NATURAL CAPITAL OIL EXPORTERS OIL PRICE OIL PRICES POVERTY LINE POVERTY RATE PUBLIC DEBT PUBLIC INVESTMENT PUBLIC SECTOR RAPID GROWTH REAL GDP REAL GDP REMITTANCES RESERVES RICH COUNTRIES SAVINGS SECTOR ACTIVITY SOCIAL PROTECTION STRUCTURAL PROBLEMS SUBSIDIARY SUPPLY SHOCK SUSTAINABLE GROWTH TRADING TRANSITION COUNTRIES UNEMPLOYMENT UNEMPLOYMENT RATE VOLATILITY WAGES WEALTH Many countries in Middle East and North Africa (MENA) will start to benefit from stronger external demand in the high-income economies, as the global economy is set for a rebound in 2014. After a marked slowdown in 2013, a recovery in high income economies is expected to boost global growth to 3.2 percent in 2014, an increase by 0.8 percentage points compared to 2013. Global output is expected to improve further in 2015 with real gross domestic product (GDP) accelerating to 3.4 percent in 2015. The World Bank estimates that growth in the United States (U.S.) will increase by 1 percentage point reaching 2.8 percent in 2014 and 2.9 percent in 2015; and the Euro Zone will improve to 1.1 percent and accelerate to 1.4 percent in 2014 and 2015 respectively, relative to negative 0.4 percent growth in 2013. The growth rebound in the Euro Zone is largely export led, with Germany and France continuing to expand at a solid pace, and Spain exiting recession. The world travel and tourism council estimates show that tourism revenues will increase by 7 percent in the MENA region in 2015 relative to 2014. To be sure, the global recovery is still fragile and downside risks, including continued low inflation in high-income economies, which can weaken demand and delay the economic recovery, and the escalation of conflict in Ukraine remain. This report presents the short-term, regional macroeconomic outlook, and economic challenges facing the countries in the MENA region. In this report, the MENA region is divided into three subgroups: the Gulf Cooperation Council (GCC) oil exporters, developing oil exporters, and oil importers. 2014-04-15T18:25:45Z 2014-04-15T18:25:45Z 2014-04 http://documents.worldbank.org/curated/en/2014/04/19335869/regional-economic-update-harnessing-global-recovery-tough-road-ahead http://hdl.handle.net/10986/17789 English en_US Middle East and North Africa Regional Economic Update;April 2014 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Economic Updates and Modeling Middle East and North Africa North Africa Middle East
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	AVERAGE INCOMES BUDGET DEFICIT BUDGET DEFICITS CASH TRANSFERS CENTRAL BANK COMMODITIES COMMODITY COMMODITY PRICES COPYRIGHT CLEARANCE COPYRIGHT CLEARANCE CENTER COUNTRY SPECIFIC CREDIT GROWTH CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICITS DEVELOPING COUNTRIES DEVELOPING REGIONS DIVERSIFICATION DOMESTIC SECURITY ECONOMIC ACTIVITY ECONOMIC PERFORMANCE EMPLOYMENT EXPORTERS EXPORTS EXTERNAL FINANCING EXTERNAL SHOCKS EXTREME POVERTY FISCAL DEFICIT FISCAL DEFICITS FLOW OF FUNDS FOREIGN DIRECT INVESTMENT FOSTER COMPETITION GINI COEFFICIENT GLOBAL ECONOMY GLOBAL OUTPUT GOVERNMENT SPENDING GROWTH RATE GROWTH RATES HOLDING INCOME INCOME GROWTH INCOME INEQUALITY INCOMES INFLATION INFLATION RATE INTANGIBLE INTERNATIONAL BANK LABOR FORCE LABOR MARKETS LOW INFLATION MIDDLE-INCOME COUNTRIES MONETARY POLICIES NATURAL CAPITAL OIL EXPORTERS OIL PRICE OIL PRICES POVERTY LINE POVERTY RATE PUBLIC DEBT PUBLIC INVESTMENT PUBLIC SECTOR RAPID GROWTH REAL GDP REAL GDP REMITTANCES RESERVES RICH COUNTRIES SAVINGS SECTOR ACTIVITY SOCIAL PROTECTION STRUCTURAL PROBLEMS SUBSIDIARY SUPPLY SHOCK SUSTAINABLE GROWTH TRADING TRANSITION COUNTRIES UNEMPLOYMENT UNEMPLOYMENT RATE VOLATILITY WAGES WEALTH
spellingShingle	AVERAGE INCOMES BUDGET DEFICIT BUDGET DEFICITS CASH TRANSFERS CENTRAL BANK COMMODITIES COMMODITY COMMODITY PRICES COPYRIGHT CLEARANCE COPYRIGHT CLEARANCE CENTER COUNTRY SPECIFIC CREDIT GROWTH CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICITS DEVELOPING COUNTRIES DEVELOPING REGIONS DIVERSIFICATION DOMESTIC SECURITY ECONOMIC ACTIVITY ECONOMIC PERFORMANCE EMPLOYMENT EXPORTERS EXPORTS EXTERNAL FINANCING EXTERNAL SHOCKS EXTREME POVERTY FISCAL DEFICIT FISCAL DEFICITS FLOW OF FUNDS FOREIGN DIRECT INVESTMENT FOSTER COMPETITION GINI COEFFICIENT GLOBAL ECONOMY GLOBAL OUTPUT GOVERNMENT SPENDING GROWTH RATE GROWTH RATES HOLDING INCOME INCOME GROWTH INCOME INEQUALITY INCOMES INFLATION INFLATION RATE INTANGIBLE INTERNATIONAL BANK LABOR FORCE LABOR MARKETS LOW INFLATION MIDDLE-INCOME COUNTRIES MONETARY POLICIES NATURAL CAPITAL OIL EXPORTERS OIL PRICE OIL PRICES POVERTY LINE POVERTY RATE PUBLIC DEBT PUBLIC INVESTMENT PUBLIC SECTOR RAPID GROWTH REAL GDP REAL GDP REMITTANCES RESERVES RICH COUNTRIES SAVINGS SECTOR ACTIVITY SOCIAL PROTECTION STRUCTURAL PROBLEMS SUBSIDIARY SUPPLY SHOCK SUSTAINABLE GROWTH TRADING TRANSITION COUNTRIES UNEMPLOYMENT UNEMPLOYMENT RATE VOLATILITY WAGES WEALTH World Bank Harnessing the Global Recovery, A Tough Road Ahead
geographic_facet	Middle East and North Africa North Africa Middle East
relation	Middle East and North Africa Regional Economic Update;April 2014
description	Many countries in Middle East and North Africa (MENA) will start to benefit from stronger external demand in the high-income economies, as the global economy is set for a rebound in 2014. After a marked slowdown in 2013, a recovery in high income economies is expected to boost global growth to 3.2 percent in 2014, an increase by 0.8 percentage points compared to 2013. Global output is expected to improve further in 2015 with real gross domestic product (GDP) accelerating to 3.4 percent in 2015. The World Bank estimates that growth in the United States (U.S.) will increase by 1 percentage point reaching 2.8 percent in 2014 and 2.9 percent in 2015; and the Euro Zone will improve to 1.1 percent and accelerate to 1.4 percent in 2014 and 2015 respectively, relative to negative 0.4 percent growth in 2013. The growth rebound in the Euro Zone is largely export led, with Germany and France continuing to expand at a solid pace, and Spain exiting recession. The world travel and tourism council estimates show that tourism revenues will increase by 7 percent in the MENA region in 2015 relative to 2014. To be sure, the global recovery is still fragile and downside risks, including continued low inflation in high-income economies, which can weaken demand and delay the economic recovery, and the escalation of conflict in Ukraine remain. This report presents the short-term, regional macroeconomic outlook, and economic challenges facing the countries in the MENA region. In this report, the MENA region is divided into three subgroups: the Gulf Cooperation Council (GCC) oil exporters, developing oil exporters, and oil importers.
format	Economic & Sector Work :: Economic Updates and Modeling
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Harnessing the Global Recovery, A Tough Road Ahead
title_short	Harnessing the Global Recovery, A Tough Road Ahead
title_full	Harnessing the Global Recovery, A Tough Road Ahead
title_fullStr	Harnessing the Global Recovery, A Tough Road Ahead
title_full_unstemmed	Harnessing the Global Recovery, A Tough Road Ahead
title_sort	harnessing the global recovery, a tough road ahead
publisher	Washington, DC
publishDate	2014
url	http://documents.worldbank.org/curated/en/2014/04/19335869/regional-economic-update-harnessing-global-recovery-tough-road-ahead http://hdl.handle.net/10986/17789
_version_	1764438517413314560

Harnessing the Global Recovery, A Tough Road Ahead

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