Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
25 October, 2014 20:44 IST
News
MENA region economies to grow by 5.1%: IMF
Source: All India Radio | 12 Nov, 2012, 07.59AM
Comments  |  Post Comment

The International Monetary Fund, IMF has predicted that the economies of the Middle East and North Africa, MENA region will grow up by 5.1% this year from 3.3% in 2011-12. In its biannual report, the agency said that the oil-exporting countries are growing at an average of 6.6% on account of higher oil prices.

But the oil importing nations such as Afghanistan, Djibouti, Egypt, Jordan, Lebanon, Mauritania, Morocco, Pakistan, Sudan, and Tunisia will see a lower rate of about 2%.

The report says that the biggest challenge in the post Arab Spring countries is how to manage the rising expectations of the people and stabilize an ailing economy where the margin for policy maneuver is limited.

It has advised them to restore macroeconomics sustainability and take up structural reforms to improve the competitiveness. The IMF report says that with the oil prices above US 100 Dollar a barrel in 2012-13, the oil exporters` combined current account surplus is forecast to be at a historic high of about USD 400 billion in 2012.

It has noted that the increased reserve of petrodollars has helped governments in the region to address growing demands of their people by increasing the wages and salaries. The agency has urged the oil exporters to increase their national savings, create private-sector jobs and spur growth to avoid economic slowdown and offset the results of a decline in oil prices. The IMF estimates that a 10% drop in oil prices would bring down the oil exporters` combined current surplus by about USD 150 billion.

The International Monetary Fund, IMF has predicted that the economies of the Middle East and North Africa, MENA region will grow up by 5.1% this year from 3.3% in 2011-12. The report says that the biggest challenge in the post Arab Spring countries is how to manage the rising expectations of the people and stabilize an ailing economy where the margin for policy manoeuvre is limited.


News
Tinplate Company of India standalone quarterly profit falls 29.06% - 22-Oct-2014 19:24
Kansai Nerolac Paints standalone quarterly net surges 40.62% - 22-Oct-2014 19:20
T E C I L Chemical & Hydro Power loss widens in Jul-Sep quarter - 22-Oct-2014 18:09
Transwarranty Finance consolidated quarterly net soars 2.66 times - 22-Oct-2014 18:03
Wipro consolidated Q2 profit rises 8% - 22-Oct-2014 16:46
SBI launches mPassBook facility in 'State Bank Anywhere' smart phone application - 22-Oct-2014 16:37
BSE inks strategic pact with Yes Bank - 22-Oct-2014 16:23
FIIs hike stake in Hindustan Zinc, DIIs cut exposure - 22-Oct-2014 16:07
DIIs increase stake in Unitech in September quarter - 22-Oct-2014 16:05
Zensar Technologies allots 1,560 equity shares - 22-Oct-2014 16:02
Tata Metaliks swings to consolidated profit in Jul-Sep quarter - 22-Oct-2014 15:59
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   2schv4 into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer