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Middle East and Central Asia > Saudi Arabia

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Cover IMF Staff Country Reports
Pakistan: 2024 Article IV Consultation and Request for an Extended Arrangement under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Pakistan
International Monetary Fund. Middle East and Central Asia Dept.
The 2024 Article IV Consultation discusses that Pakistan has taken key steps to restoring economic stability with consistent policy implementation under the 2023–2024 Stand-by Arrangement (SBA). The discussions focused on Pakistan’s medium-term prospects, which helped inform policies and define program objectives. The new government formed after the February elections has continued efforts to strengthen economic conditions and is embarking on a multi-year home-grown reform program to achieve resilient and inclusive economic growth. The program aims to reinforce the authorities’ efforts to bolster policy credibility and entrench stability and accelerate structural reforms to strengthen public finances, improve the provision of critical public services, and create a favorable environment for private-led growth.
Keywords:
reform agenda; SBP's effort; governance arrangement; exchange rate movement; Pakistani authorities; Tariffs; Global
Cover IMF Staff Country Reports
Pakistan: First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Pakistan
International Monetary Fund. Middle East and Central Asia Dept.
This paper discusses Pakistan’s First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria. Pakistan’s program is on track and has started to bear fruit. However, risks remain elevated. Strong ownership and steadfast reform implementation are critical to entrench macroeconomic stability and support robust and balanced growth. The authorities are committed to sustaining the progress on fiscal adjustment to place debt on a downward path. The planned reforms include strengthening tax revenue mobilization, including the elimination of tax exemptions and loopholes, and prudent expenditure policies. Preparations for a comprehensive tax policy reform should start early to ensure timely implementation. The authorities have adopted a comprehensive plan to address the accumulation of arrears in the power sector. Its full implementation is key to improve collection, reduce losses, and enhance governance. Timely and regular adjustment of energy tariffs will bring the sector in line with cost recovery.
Keywords:
ISCR; CR; exchange rate; government; reform implementation; implementation; SDR; private sector investment; government effort; reform of the state-owned enterprise sector; Pakistani authorities; economic reform reform program; Budget planning and preparation; Tariffs; Global; Asia and Pacific
Cover IMF Staff Country Reports
Jordan: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Jordan
International Monetary Fund. Middle East and Central Asia Dept.
This 2017 Article IV Consultation highlights that Jordan has made significant progress since the 2014 Article IV Consultation but pressing challenges remain. The gradual pick-up in growth from 2010 to 2014 ended in 2015, with real GDP growth decelerating from 2.4 percent in 2015 to 2 percent in 2016. Labor market conditions have remained challenging, particularly for youth and women, with the unemployment rate increasing to 15.8 percent in the second half of 2016. Despite considerable progress and recent improvements, the outlook remains challenging. Real GDP growth is projected to reach 2.3 percent in 2017, while inflation is expected to stabilize at about 2.5 percent by year-end.
Keywords:
ISCR; CR; deposit dollarization; electricity tariff; IMF director; central bank of Jordan; staff appraisal; Oil prices; Tariffs; Credit; Global
Cover IMF Staff Country Reports
Jordan: First Review Under the Stand-By Arrangement, Request for Waivers of Nonobservance of Performance Criteria, Modification of Performance Criteria, and Rephasing of Access—Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Jordan
International Monetary Fund. Middle East and Central Asia Dept.
Fiscal consolidation, additional reserve buildup, and higher growth are key program objectives for the Jordanian authorities. Despite the socially difficult elimination of the fuel subsidy, program performance was mixed. Initiatives to strengthen banking supervision and develop capital markets are important. The program addresses economic imbalances and safeguards social stability. Executive Directors are satisfied with the action taken to rebuild reserves through an increase in interest rates and by attracting donor funds, as well as domestic dollar-denominated financing. The government is committed to working on steps to boost revenue.
Keywords:
ISCR; CR; electricity company; executive board's discussion; government; strategy; support; central government deficit; energy import price; core inflation; Energy subsidies; Tariffs; Capital spending; Arrears; Global; Europe; Middle East; North Africa; East Africa
Cover IMF Staff Country Reports
Union of the Comoros: Statistical Appendix
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; central bank; retail price; unit value; staff estimate; bank financing; net statement; import value; Imports; Arrears; Exports; Tariffs; Africa
Cover IMF Staff Country Reports
Union of the Comoros: Selected Issues and Statistical Appendix
International Monetary Fund
This Selected Issues paper analyzes the decentralization of government in the Union of the Comoros and its economic management functions foreseen under the constitution. The paper examines the special challenge of combining a civil service reform needed to increase the efficiency of the civil service with the decentralization of the civil service foreseen under the new constitution. It discusses developments in a number of civil service indicators that are often used to analyze the government wage bill and employment in relation to economic and fiscal objectives.
Keywords:
ISCR; CR; government; island government; trade regimes of the Comoros; constitution; Comorian authorities; Union government; management structures; wage bill; Civil service; Civil service reform; Exports; Tariffs; Imports; Africa; Sub-Saharan Africa
Cover IMF Staff Country Reports
Comoros: Statistical Appendix
International Monetary Fund
The statistical data on gross domestic product, cost structure of vanilla exports, production of meat, fish, and dairy products, consumer price index, and consolidated government financial operations of Comoros have been presented in this paper. The wage bill developments, consolidated net statement of public enterprises, monetary survey, summary statement of the central bank, volume and value of principal exports, geographical distribution of trade, external debt payments, arrears by creditors, and related economic indices have been included in the statistical data.
Keywords:
ISCR; CR; value; retail price; unit value; fund staff estimate; net use; net statement; statement of public enterprises; Imports; Tariffs; Exports; Agricultural commodities; Civil service; Africa
Cover Macroeconomic Issues and Policies in the Middle East and North Africa
Macroeconomic Issues and Policies in the Middle East and North Africa

Abstract

This book brings together recent IMF research on how the Middle East and North African countries are grappling with various macroeconomic challenges. It rigorously analyzes policy alternatives for a range of relevant topics, including the implications of changing demographic trends for growth and unemployment, determinants of inflation, financial-sector reform and Islamic banking, fiscal sustainability in oil-dependent economies, exchange rate and trade arrangements, and impediments to foreign direct investment. The book’s overall theme-self-sustaining and faster growth can be achieved through comprehensive structural reforms and closer collaboration between the region’s policymakers and the international community.

Keywords:
BOOK; exchange rate; market; SDR zone; EU imports; EU association agreement; core deficit; GCC country; Exchange rates; Tariffs; Exports; Real exchange rates; Imports; Middle East; North Africa; Maghreb; East Asia; Western Hemisphere
Cover IMF Staff Country Reports
Comoros: Statistical Annex
International Monetary Fund
In this study, the following statistical data are presented in detail: GDP at current market prices; prices of export crops; production and consumption of electricity; indicators of tourism activity; indicators of population, education, and employment; monetary survey; summary statement of the central bank; structure of interest rates; balance of payments; volume and value of principal exports and imports; breakdown of the government wage bill; external debt outstanding by creditors; summary of tax system; consolidated government expenditure; wage bill developments by ministry; and so on.
Keywords:
ISCR; CR; tax; enterprise; estimate; fund staff estimate; advance tax payment; unit value; tax proceeds; proceeds from petroleum products; balance of payments; Imports; Foreign assets; Tariffs; Civil service; Exports; Africa
Cover IMF Working Papers
Estimation of Trade Protection in Middle East and North African Countries
Ms. Maria-Angels Oliva
This paper studies the structure and evolution of trade protection in the Middle East and North African (MENA) countries in the 1990s. MENA countries use tariffs and nontariff barriers, and tariff dispersion and nontariff barriers, as substitute protection measures. Tariff levels and tariff dispersion are complements. Excluding Tunisia, the cross-country correlation between tariff and nontariff barriers is -0.46. The correlation between tariff dispersion and nontariff barriers is -0.8. The paper also develops an overall index of trade protection and finds that tariff levels, their dispersion, and nontariff barriers account for 60 percent, 10 percent, and 30 percent of overall protection, respectively.
Keywords:
WP; tariff rate; trade protection; tariff dispersion; tariffs; nontariff barriers; rankings; restrictiveness index; tariff level; frequency ratio; Trade barriers; Imports; Trade liberalization; Trade policy; Middle East; North Africa; East Asia