Contribution to Book
MENAP Oil Exporters: Heightened Risks to Oil and Fiscal PositionsRegional Economic Outlook: Middle East and Central Asia, November 2013 (2013)
AbstractLower global demand and domestic oil supply disruptions are set to reduce growth in MENAP oil exporters this year, after several years of strong performance. These factors are expected to unwind in 2014, lifting economic activity back to the levels experienced in the recent past; however, the region is not saving enough of its oil windfall and, on current policies, will run an aggregate fiscal deficit beginning in 2016. Together with substantial oil revenue risks, this prospect underscores the need for countries to build or strengthen their fi scal and external buffers. Medium-term economic prospects will depend on the ability of oil exporters to diversify their economies and create jobs in the private non-oil sector for their rapidly growing populations.
PublisherInternational Monetary Fund
Citation InformationAlberto Behar. "MENAP Oil Exporters: Heightened Risks to Oil and Fiscal Positions" Regional Economic Outlook: Middle East and Central Asia, November 2013 (2013)
Available at: http://works.bepress.com/alberto_behar/34/