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Launch of the MENA Economic Outlook report


 Published on: 28-Oct-2020

The International Monetary Fund (IMF) has launched the Economic Development Outlook Report for countries of the Middle East and North Africa (MENA) in cooperation with the Dubai International Financial Center (DIFC) with the participation of a number of experts and specialists, as well as with the participation of the UASA’s General Secretariat represented by the Secretary General.
Counties in the Middle East and North Africa region responded to the COVID-19 pandemic with swift and stringent measures to mitigate its spread and impact, which came at a steep economic cost. Countries in the region, like in most of the world, are now cautiously reopening their economies, but given recent surges in COVID-19 infections, some are reinstating lockdowns. The global recovery remains uncertain, uneven, and prone to setbacks. Sizable uncertainty surrounds the evolution of the pandemic, the outlook for contact-intensive sectors, and financial market sentiment.
While massive global policy support avoided worse outcomes, economies are increasingly facing difficult trade-offs between implementing measures to support near-term growth and avoiding a further buildup of debt. Containing the health crisis and cushioning income losses remain urgent priorities. As countries reopen, policymakers must lay the groundwork for recovery to rebuild stronger, more resilient, and more inclusive economies.

 

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