28 July, 2014 23:56 IST
News
MENA region economies to grow by 5.1%: IMF
Source: All India Radio (12-NOV-12)
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
L&T Q1 cons earnings more than doubles - 28-Jul-2014 18:10
G R P standalone quarterly profit up 25.17% - 28-Jul-2014 17:47
India Home Loan standalone quarterly net declines 27.59% - 28-Jul-2014 17:43
Panama Petrochem standalone quarterly earnings zoom 4.19 times - 28-Jul-2014 17:32
I S L Consulting standalone quarterly profit soars 9.49 times - 28-Jul-2014 17:29
ADC India Communications standalone quarterly profit zooms 3.78 times - 28-Jul-2014 17:20
V B Desai Financial Services standalone quarterly net rises 19.78% - 28-Jul-2014 17:03
Subros standalone quarterly profit climbs 13.06% - 28-Jul-2014 17:00
Inox Leisure standalone quarterly profit plunges 67.79% - 28-Jul-2014 16:56
Gujarat Narmada Valley Fertilizers and Chemicals swings to loss in Apr-Jun quarter - 28-Jul-2014 16:53
Praj Industries standalone quarterly net declines 22.67% - 28-Jul-2014 16:49
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   9nh755 into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer