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Regional Economic Outlook for the Middle East and Central Asia, October 2024: Navigating The Evolving Geoeconomic Landscape
- Navigating the Evolving Geoeconomic Landscape -
Economic growth in the Middle East and North Africa and Caucasus and Central Asia regions is projected to strengthen in the near term, but only to the extent that current challenges abate. Ongoing conflicts and oil production cuts are dampening economic performance, and medium-term growth prospects have weakened over the past two decades.
Moreover, high uncertainty looms, with key risks including escalating conflicts, increased geoeconomic fragmentation, and commodity price volatility. To boost growth and create jobs―especially for women and youth―reform priorities include strengthening governance, encouraging private sector investment, and advancing financial development.
Economic growth in the Middle East and North Africa and Caucasus and Central Asia regions is projected to strengthen in the near term, but only to the extent that current challenges abate. Ongoing conflicts and oil production cuts are dampening economic performance, and medium-term growth prospects have weakened over the past two decades.
Moreover, high uncertainty looms, with key risks including escalating conflicts, increased geoeconomic fragmentation, and commodity price volatility. To boost growth and create jobs―especially for women and youth―reform priorities include strengthening governance, encouraging private sector investment, and advancing financial development.
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