Front Matter

Front Matter

International Monetary Fund. Middle East and Central Asia Dept.
Published Date:
April 2008
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    ©2008 International Monetary Fund

    Cataloguing-in-Publication Data

    Regional economic outlook : Middle East and Central Asia – [Washington, D.C.] :

    International Monetary Fund, 2008.

    p.   cm. – (World economic and financial surveys)

    May 2008

    Includes bibliographical references.

    1. Economic forecasting – Middle East. 2. Economic forecasting – Asia, Central. 3. Middle East – Economic conditions. 4. Asia, Central – Economic conditions. I. International Monetary Fund. II. Series (World economic and financial surveys)

    HC415.15.A1 R445 2008

    Price: US$31.00

    (US$26.00 to full-time faculty members and students at universities and colleges)

    Please send orders to:

    International Monetary Fund, Publication Services

    700 19th St. N.W., Washington, D.C. 20431, U.S.A.

    Tel.: (202) 623-7430 Fax: (202) 623-7201



    The views expressed in this publication are those of the contributors, and not necessarily of the IMF. The team of principal contributors from the Middle East and Central Asia Department comprised Adam Bennett, Abdelhak Senhadji, Rakia Moalla-Fetini, Mandana Dehghanian, Fiorella Facello, and Patricia Poggi. In addition, country desk economists, research assistants, and mission chiefs provided important contributions.


    Assumptions and Conventions

    A number of assumptions have been adopted for the projections presented in the Regional Economic Outlook: Middle East and Central Asia. It has been assumed that established policies of national authorities will be maintained; that the price of oil will average US$95.50 a barrel in 2008; and that the six-month London interbank offered rate (LIBOR) on U.S. dollar deposits will average 3.1 percent in 2008. These are, of course, working hypotheses rather than forecasts, and the uncertainties surrounding them add to the margin of error that would in any event be involved in the projections. Some of the 2007 data in the figures and tables are estimates. These estimates for 2007 and projections for 2008 are based on statistical information available through end-March 2008.

    The following conventions are used in this publication:

    • In tables, ellipsis points (. . .) indicate “not available,” and 0 or 0.0 indicates “zero” or “negligible.” Minor discrepancies between sums of constituent figures and totals are due to rounding.
    • An en dash (–) between years or months (for example, 2006–07 or January–June) indicates the years or months covered, including the beginning and ending years or months; a slash or virgule (/) between years or months (for example, 2006/07) indicates a fiscal or financial year, as does the abbreviation FY (for example, FY2007).
    • “Billion” means a thousand million; “trillion” means a thousand billion.
    • “Basis points” refer to hundredths of 1 percentage point (for example, 25 basis points are equivalent to ¼ of 1 percentage point).

    As used in this publication, the term “country” does not in all cases refer to a territorial entity that is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states but for which statistical data are maintained on a separate and independent basis.

    Further Information

    This report on the Regional Economic Outlook: Middle East and Central Asia is available in full on the IMF’s Internet site,

    Inquiries about the content of the Regional Economic Outlook: Middle East and Central Asia should be sent by mail or e-mail (telephone inquiries cannot be accepted) to:

    Regional Economic Outlook

    Middle East and Central Asia Department

    International Monetary Fund

    700 19th St. N.W.,

    Washington, D.C. 20431, U.S.A.


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