Regional Economic Outlook, October 2020, Middle East and Central Asia

Regional Economic Outlook, October 2020, Middle East and Central Asia
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Publication date: October 2020
ISBN: 9781513558165
$35.00
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Topics covered in this book

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Labor , Exports and Imports , Finance , Economics- Macroeconomics , public health , reopening , rebuilding , oil revenue , OPEC+ , REO , oil exporter , MCD country , oil importer , IMF staff calculation , MCD firm , MCD region

Summary

Countries in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region and those in the Caucasus and Central Asia (CCA) responded to the COVID-19 pandemic with swift and stringent measures to mitigate its spread and impact but continue to face an uncertain and difficult environment. Oil exporters were particularly hard hit by a “double-whammy” of the economic impact of lockdowns and the resulting sharp decline in oil demand and prices. Containing the health crisis, cushioning income losses, and expanding social spending remain immediate priorities. However, governments must also begin to lay the groundwork for recovery and rebuilding stronger, including by addressing legacies from the crisis and strengthening inclusion.