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Middle East and North Africa Economic Developments and Prospects, January 2011: Investing for Growth and Jobs

Middle East and North Africa Economic Developments and Prospects, January 2011: Investing for Growth and Jobs

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The impact of the global financial and economic crisis on the Middle East and North Africa region was relatively mild. Lack of integration and a large public sector helped insulate the region to some extent, but now these and other factors are slowing down the speed of its economic recovery. The report examines the major factors threatening the recovery and those that obstruct long-term growth – especially non-oil export growth, which in net terms contributed little to regional growth during the past decade, with non-oil exports remaining below potential in many countries in the region. The report emphasizes several major areas in need of policy makers’ attention, including restrictive trade policies, particularly those affecting trade in services; governance issues linked to uneven application of rules and regulations; inefficient and inflexible labor markets and scarcity of skills, innovation and technological capabilities.

The impact of the global financial and economic crisis on the Middle East and North Africa region was relatively mild. Lack of integration and a large public sector helped insulate the region to some extent, but now these and other factors are slowing down the speed of its economic recovery. The report examines the major factors threatening the recovery and those that obstruct long-term growth – especially non-oil export growth, which in net terms contributed little to regional growth during the past decade, with non-oil exports remaining below potential in many countries in the region. The report emphasizes several major areas in need of policy makers’ attention, including restrictive trade policies, particularly those affecting trade in services; governance issues linked to uneven application of rules and regulations; inefficient and inflexible labor markets and scarcity of skills, innovation and technological capabilities.

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Published by: World Bank Publications on Feb 18, 2013
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09/17/2013

 
Sustaining the Recovery  and Looking Beyond
the world bank 
Middle east and north africa regioneconoMic developMents & prospects,January 2011
 
Sustaining the Recoeryand Looking Beyond
Middle east and north africa regioneconoMic developMents & prospects,January 2011
the world bank 

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