Middle East and Central Asia

Regional Economic Outlook, May 2009, Middle East and Central Asia

Publication Date:

May 10, 2009

Electronic Access:

Link to Abstract

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The global crisis is now affecting the countries in the Middle East and Central Asia region, and economic and financial vulnerabilities are rising. In the Middle East and North Africa, good economic fundamentals, appropriate policy responses, and sizable currency reserves are helping mitigate the impact of the shock. In the Caucasus and Central Asia, lower commodity prices and adverse economic developments in Russia have hit hard. The report notes that countries should prepare for the contingency of a prolonged global slowdown by supporting domestic demand for a longer period and strengthening financial systems further. In some countries with rising unemployment, it will be important to target government resources and policies on protecting the poor; in others, increased donor support will be necessary to maintain needed economic development.

Series:

Middle East and Central Asia

Subject:

Balance of payments Banking Commodities Current account balance Exchange rates Fiscal policy Fiscal stimulus Foreign direct investment Foreign exchange Oil Oil prices Prices Remittances