Harnessing the Global Recovery : A Tough Road Ahead

Harnessing the Global Recovery : A Tough Road Ahead

Compared with the past three years, 2014 seems hopeful and 2015 can be a turning point for Middle East and North Africa (MENA) countries. After a slowdown in 2013, recovery in high income economies is expected to boost global growth to 3.2 percent...

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Bibliographic Details
Main Author: Mottaghi, Lili
Format: Brief
Language:English
en_US
Published: World Bank, Washington, DC 2014
Subjects:
AVERAGE INCOMES
BUDGET DEFICIT
BUDGET DEFICITS
CASH TRANSFERS
COMMODITY
CREDIT GROWTH
DEBT
DEVELOPING COUNTRIES
DEVELOPING REGIONS
DIVERSIFICATION
DOMESTIC SECURITY
ECONOMIC ACTIVITY
ECONOMIC DIVERSIFICATION
ECONOMIC PERFORMANCE
ECONOMIC SHOCKS
EXPORTS
EXTERNAL FINANCING
EXTERNAL SHOCKS
EXTREME POVERTY
FISCAL DEFICIT
FISCAL DEFICITS
FLOW OF FUNDS
FOREIGN DIRECT INVESTMENT
FOSTER COMPETITION
GINI COEFFICIENT
GLOBAL OUTPUT
GOVERNMENT SPENDING
GROWTH RATE
GROWTH RATES
HOLDING
INCOME
INCOME GROWTH
INCOME INEQUALITY
INFLATION RATE
INFRASTRUCTURE INVESTMENTS
INTANGIBLE
LABOR FORCE
LABOR MARKETS
LOW INFLATION
NATURAL CAPITAL
OIL EXPORTERS
OIL PRICE
OIL PRICES
POVERTY LINE
POVERTY RATE
PUBLIC DEBT
PUBLIC INVESTMENT
PUBLIC SECTOR
RAPID GROWTH
REAL GDP
REDUCTION IN POVERTY
REGIONAL GROWTH
REGIONAL GROWTH RATES
REGIONAL UNEMPLOYMENT
REMITTANCES
RESERVES
RICH COUNTRIES
SAFEGUARDS
SAVINGS
SECTOR ACTIVITY
STRUCTURAL PROBLEMS
SUSTAINABLE GROWTH
TRADING
TRANSITION COUNTRIES
UNEMPLOYMENT
UNEMPLOYMENT RATE
VOLATILITY
WAGES
WEALTH
Online Access:http://documents.worldbank.org/curated/en/2014/04/20144323/harnessing-global-recovery-tough-road-ahead
http://hdl.handle.net/10986/20548
Description
Summary:Compared with the past three years, 2014 seems hopeful and 2015 can be a turning point for Middle East and North Africa (MENA) countries. After a slowdown in 2013, recovery in high income economies is expected to boost global growth to 3.2 percent in 2014, an increase of 0.8 percent from 2013. Global output is to improve further in 2015 with real gross domestic product (GDP) growth of 3.4 percent. In addition to growth expansion in the United States, the United Kingdom, as well modest recovery in the Euro zone countries, global growth will continue to be driven by growth in developing countries, expected to be between 5.3 to 5.5 percent in 2014 and 2015 respectively, led by China and India. Higher global demand is expected to boost MENA energy and manufactured exports in countries that have trade linkages with high-income countries. MENA countries share many structural problems that have prevented economies from moving to a higher, sustainable growth path. Fiscal spending in almost all MENA countries is dominated by a large civil-service wage bill and general subsidies. The global recovery remains fragile and downside risks, including continued low inflation in high-income economies, can weaken demand and delay economic recovery.

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