Middle East and Central Asia > Kyrgyz Republic
Abstract
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.
Abstract
Oil exporters in the Middle East and North Africa, Afghanistan, and Pakistan region (MENAP) are continuing to adjust to lower oil prices, which have dampened growth and contributed to large fiscal and external deficits.
Abstract
This issue of the Regional Economic Outlook: Middle East and Central Asia provides an in-depth look at the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, as well as the Caucasus and Central Asia (CCA). Four chapters deal with MENAP oil exporters, MENAP oil importers, policy challenges facing MENAP, and sustaining the recovery in the CCA countries. Two developments mark the outlook for the MENAP region: the social and political unrest and the surge in global fuel and food prices, which have resulted in unusually large uncertainties in the near-term economic outlook. Meanwhile, growth in the CCA countries was higher than expected. Three main policy challenges to CCA countries are rising inflation, heightened social pressures to spend, and the poor quality of bank portfolios. Job creation and poverty reduction are key objectives for all CCA countries.
Abstract
The Regional Economic Outlook assesses the near-term outlook for each of the three subregions: the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) oil exporters, the MENAP oil importers, and the Caucasus and Central Asia (CCA). The report also looks at medium-term issues of particular concern to the region, namely the need to boost competitiveness and growth to address high levels of long-standing unemployment in the MENAP region, and enhance the effectiveness of monetary policy and regional cooperation in the CCA.