## reo-stat-appendix1020

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---

### Coverage and dataset
- MCD countries and territories covered: Afghanistan, Algeria, Armenia, Azerbaijan, Bahrain, Djibouti, Egypt, Georgia, Iran, Iraq, Jordan, Kazakhstan, Kuwait, the Kyrgyz Republic, Lebanon, Libya, Mauritania, Morocco, Oman, Pakistan, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tajikistan, Tunisia, Turkmenistan, the United Arab Emirates, Uzbekistan, the West Bank and Gaza, and Yemen (31 MCD countries).
- Syria: all data excluded for 2011 onward due to the uncertain political situation.
- Lebanon: projections for 2021 omitted due to an unusually high degree of uncertainty.
- Calendar year conventions:
  - All data refer to calendar years except: Afghanistan (March 21 to March 20 until 2011, and December 21 to December 20 thereafter), Iran (March 21 to March 20), and Egypt and Pakistan (July to June) except inflation.
  - Data in Tables 7 and 8 correspond to the calendar year for all aggregates and countries, except for Iran (Iranian calendar year beginning on March 21).
- The 2020 and 2021 data in the tables are projections based on statistical information available through late September 2020.

### Projection assumptions (working hypotheses)
- Established policies of national authorities are assumed to be maintained.
- Oil price assumptions: US$41.69 a barrel in 2020 and US$46.70 a barrel in 2021.
- Six-month LIBOR on U.S.-dollar deposits: 0.74 percent in 2020 and 0.41 percent in 2021.
- These are working hypotheses rather than forecasts; uncertainties add to projection margins of error.

### Aggregation, definitions, and table conventions
- “Oil” includes gas in Tables 3, 6, 13, and 14.
- Averages: arithmetically weighted for all data aggregates except CPI (geometric averages).
- REO aggregates construction:
  - Domestic economy composites (Tables 1, 3, 7–8): weighted by GDP valued at PPPs as a share of total MCD or group GDP.
  - Broad money growth (Table 9): weighted by GDP converted to U.S. dollars at market exchange rates (both GDP and exchange rates averaged over preceding three years).
  - Fiscal data aggregates (Tables 10–16): sums of individual country data after conversion to US dollars at the average market exchange rates in the years indicated, in percent of aggregate GDP in US dollars.
  - External economy nominal composites (Tables 17–19 and 21): sums of individual country data. External economy percent-of-GDP composites (Tables 20 and 22): weighted by GDP in U.S. dollars.
  - Composites in Tables 2, 4, and 5: sums of individual country data.
- Conventions: 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.

### Key statistical tables — headline aggregates and selected series (selected values preserved verbatim)
- Table 1. Real GDP Growth (Annual change; percent) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
  - MENAP: 4.6 | 2.4 | 1.8 | 0.9 | -4.4 | 2.9
  - MENAP oil exporters: 4.8 | 1.5 | 0.4 | -0.3 | -6.6 | 3.4
  - MENAP oil importers: 4.3 | 3.9 | 4.1 | 2.8 | -1.0 | 2.2
  - CCA: 7.3 | 4.1 | 4.3 | 4.8 | -2.1 | 3.9
  - Memorandum — MENA: 4.6 | 2.0 | 1.2 | 0.8 | -5.0 | 3.2

- Table 2. Nominal GDP (Billions of U.S. dollars) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
  - MENAP: 2,247.8 | 3,192.8 | 3,454.3 | 3,603.8 | 3,286.6 | 3,502.9
  - MENAP oil exporters: 1,653.6 | 2,312.5 | 2,550.1 | 2,685.7 | 2,367.0 | 2,536.3
  - MENAP oil importers: 594.2 | 880.3 | 904.1 | 918.1 | 919.5 | 966.6
  - CCA: 234.0 | 346.9 | 363.4 | 380.9 | 359.7 | 389.6
  - Memorandum — MENA: 2,071.2 | 2,869.3 | 3,122.8 | 3,308.8 | 3,004.8 | 3,208.9

- Table 3. Oil Exporters: Oil and Non-Oil Real GDP Growth (Annual change; percent) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
  - Non-Oil GDP — MENAP oil exporters: 6.0 | 2.0 | 1.3 | 2.1 | -5.8 | 3.4
  - Non-Oil GDP — CCA oil and gas exporters: 7.9 | 4.1 | 3.9 | 5.6 | -1.6 | 3.6
  - Oil GDP — MENAP oil exporters: 3.3 | 0.4 | -2.8 | -8.3 | -7.7 | 2.0
  - Oil GDP — CCA oil and gas exporters: 7.9 | 6.4 | 3.8 | -0.4 | -5.5 | 1.2
  - Memorandum — GCC (Non-Oil GDP): 6.4 | 2.1 | 1.7 | 2.4 | -5.7 | 2.9

- Table 4. Crude Oil and Natural Gas Production (Millions of barrels per day) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
  - Crude Oil Production — MENAP oil exporters: 24.44 | 27.47 | 27.71 | 26.09 | 23.10 | 23.42
  - Crude Oil Production — GCC (memorandum): 15.74 | 17.36 | 17.83 | 17.35 | 16.12 | 16.16
  - Natural Gas Production — MENAP oil exporters: 9.45 | 15.68 | 16.00 | 16.05 | 15.73 | 16.48
  - Natural Gas Production — GCC (memorandum): 5.39 | 8.89 | 9.18 | 9.35 | 9.29 | 9.70

- Table 5. Crude Oil and Natural Gas Exports (Millions of barrels per day) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
  - Crude Oil Exports — MENAP oil exporters: 18.06 | 19.77 | 20.16 | 18.53 | 16.13 | 16.05
  - Crude Oil Exports — GCC (memorandum): 12.35 | 12.57 | 13.16 | 12.57 | 11.57 | 11.27
  - Natural Gas Exports — MENAP oil exporters: 3.59 | 4.81 | 4.89 | 4.83 | 4.32 | 4.72
  - Natural Gas Exports — GCC (memorandum): 2.16 | 3.37 | 3.51 | 3.54 | 3.39 | 3.48

- Table 6. Breakeven Oil Prices (U.S. dollars per barrel) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
  - Fiscal breakeven (representative entries):
    - Algeria: 102.69 | 91.41 | 101.4 | 106.3 | 118.2 | 135.2
    - Saudi Arabia: 80.0 | 83.7 | 88.6 | 82.6 | 78.2 | 67.9
    - United Arab Emirates: 48.0 | 62.0 | 64.1 | 67.1 | 75.9 | 66.5
  - External breakeven (representative entries):
    - Algeria: 81.49 | 80.11 | 101.7 | 97.3 | 88.9 | 105.7
    - Saudi Arabia: 57.2 | 49.9 | 46.8 | 51.1 | 47.6 | 50.7
    - United Arab Emirates: 52.5 | 28.7 | 28.3 | 26.3 | 29.7 | 17.6
  - Notes: Fiscal breakeven is the oil price at which the fiscal balance is zero. External breakeven is the oil price at which the current account balance is zero. Kuwait's fiscal breakeven is before the compulsory 10 percent revenue transfer to the Future Generations Fund including investment income. Yemen is a net oil importer since 2015.

- Table 7. Consumer Price Inflation (Year average; percent) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
  - MENAP: 6.8 | 7.2 | 8.9 | 7.3 | 9.5 | 9.9
  - MENAP oil exporters: 6.5 | 3.5 | 8.0 | 6.6 | 7.5 | 8.4
  - MENAP oil importers: 7.7 | 14.1 | 10.3 | 8.6 | 12.6 | 12.3
  - CCA: 9.0 | 9.1 | 7.9 | 6.6 | 7.6 | 6.4
  - Memorandum — MENA: 6.7 | 7.7 | 9.7 | 7.5 | 9.4 | 10.1

- Table 8. Core Consumer Price Inflation (Year average; percent) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
  - MENAP (core): 7.7 | 6.7 | 11.6 | 9.0 | 8.1 | 8.4
  - MENAP oil exporters (core): 8.2 | 2.5 | 10.0 | 9.0 | 8.0 | 8.9
  - MENAP oil importers (core): 6.0 | 12.5 | 13.8 | 9.0 | 8.2 | 7.9
  - Memorandum — MENA (core): 7.9 | 6.9 | 12.7 | 9.2 | 8.1 | 8.9
  - Note: Core inflation uses country-specific definitions of core in its calculation.

### Monetary and fiscal aggregates (selected Table values from Section 2)
- Broad Money Growth (Annual change; percent)
  - MENAP: Average 15.4; 2017 12.6; 2018 10.0; 2019 11.0; 2020 10.9; 2021 11.8
  - MENAP oil exporters: Average 16.2; 2017 8.0; 2018 7.1; 2019 10.9; 2020 9.4; 2021 10.3
  - MENAP oil importers: Average 13.1; 2017 24.0; 2018 17.0; 2019 11.4; 2020 15.3; 2021 15.9
  - CCA: Average 30.2; 2017 11.7; 2018 8.5; 2019 9.3; 2020 9.0; 2021 9.9
  - Selected country examples:
    - Iran, I.R. of: Average 26.1; 2017 22.1; 2018 22.3; 2019 31.4; 2020 22.8; 2021 30.9
    - Saudi Arabia: Average 11.2; 2017 0.3; 2018 2.7; 2019 7.1; 2020 7.5; 2021 3.1
    - Egypt: Average 13.8; 2017 39.3; 2018 18.5; 2019 11.8; 2020 17.5; 2021 14.0
    - Uzbekistan: Average 36.6; 2017 41.0; 2018 13.2; 2019 13.8; 2020 17.1; 2021 17.7

- Fiscal aggregates (selected)
  - Central Government Net Lending/Borrowing (Percent of GDP) — MENAP: Average 1.5; 2017 -5.2; 2018 -2.9; 2019 -4.0; 2020 -8.6; 2021 -6.6
  - General Government Fiscal Balance (Percent of GDP) — MENAP: Average 2.2; 2017 -5.6; 2018 -2.7; 2019 -4.1; 2020 -10.3; 2021 -7.6
  - General Government Total Revenue, Excluding Grants (Percent of GDP) — MENAP: Average 31.5; 2017 25.2; 2018 28.4; 2019 27.0; 2020 23.1; 2021 24.6
  - Total Government Gross Debt (Percent of GDP) — MENAP: Average 37.6; 2017 46.3; 2018 45.6; 2019 49.6; 2020 58.5; 2021 58.6
  - Total Government Net Debt (Percent of GDP) — MENAP: Average 22.1; 2017 33.3; 2018 35.7; 2019 41.8; 2020 50.3; 2021 51.3

- Oil-exporter fiscal health indicators (selected)
  - General Government Non-Oil Fiscal Balance (Percent of non-oil GDP) — MENAP oil exporters: Average -40.8; 2017 -34.9; 2018 -38.2; 2019 -34.3; 2020 -33.0; 2021 -30.2
  - General Government Non-Oil Revenue (Percent of non-oil GDP) — MENAP oil exporters: Average 13.1; 2017 14.8; 2018 17.7; 2019 20.1; 2020 16.8; 2021 19.2

### External sector, reserves, and external debt (Section 3 highlights)
- Current Account Balances (Billions of U.S. dollars)
  - MENAP: 156.0 (Average 2000–16); -19.1 (2017); 107.7 (2018); 32.6 (2019); -118.4 (2020); -92.0 (2021, projection)
  - MENAP oil exporters: 179.2; 40.7; 168.2; 86.1; -80.7; -49.7
  - Selected country examples (series where given):
    - Algeria: 8.1; -22.1; -16.7; -17.1; -15.9; -25.8
    - Saudi Arabia: 62.9; 10.5; 72.0; 46.9; -17.1; -11.7
    - United Arab Emirates: 26.3; 27.5; 40.5; 35.4; 12.6; 27.9
    - Egypt: -3.1; -14.4; -6.0; -10.9; -11.6; -15.7

- Current Account Balances (Percent of GDP)
  - MENAP: 7.3 (Average 2000–16); -0.6 (2017); 3.1 (2018); 0.9 (2019); -3.6 (2020); -2.6 (2021, projection)
  - MENAP oil exporters: 10.7; 1.8; 6.6; 3.2; -3.4; -2.0
  - Country highlights (selected percent-of-GDP):
    - Kuwait: 29.3; 8.0; 14.5; 9.4; -6.8; -2.8
    - Qatar: 18.9; 4.0; 9.1; 2.4; -0.6; 2.6
    - Egypt: -0.6; -6.1; -2.4; -3.6; -3.2; -4.2

- Gross Official Reserves (Billions of U.S. dollars)
  - MENAP total: 817.2 (Average 2000–16); 1,130.0 (2017); 1,168.9 (2018); 1,062.2 (2019); 926.5 (2020); 872.6 (2021, projection)
  - MENAP oil exporters: 728.2; 985.0; 1,024.6; 926.7; 804.9; 736.7
  - Selected country reserves:
    - Algeria: 107.4; 96.1; 78.6; 61.5; 44.6; 21.9
    - Iran, I.R. of: 68.3; 111.7; 121.6; 12.7; 8.8; 10.5
    - Saudi Arabia: 355.2; 493.8; 494.1; 497.3; 439.3; 401.1
    - United Arab Emirates (central bank only): 42.0; 95.4; 99.5; 108.4; 102.3; 111.3
    - Egypt: 20.9; 30.7; 43.5; 43.9; 37.2; 40.4

- Gross Official Reserves (Months of Imports)
  - MENAP: 9.8 (Average 2000–16); 10.2 (2017); 10.7 (2018); 11.4 (2019); 9.4 (2020); 8.4 (2021, projection)
  - MENAP oil exporters: 11.2; 11.7; 12.5; 13.0; 10.4; 9.1
  - MENAP oil importers: 5.3; 5.6; 5.6; 6.5; 5.9; 6.0
  - Selected country months:
    - Algeria: 26.7; 19.2; 17.4; 17.7; 10.1; 5.2
    - Egypt: 5.7; 5.0; 6.7; 7.5; 7.8; 7.3
    - Jordan: 6.6; 8.1; 7.9; 9.7; 9.0; 9.1

- Total Gross External Debt (Percent of GDP)
  - MENAP aggregate: 30.3 (Average 2000–16); 41.2 (2017); 41.4 (2018); 44.0 (2019); 50.7 (2020); 48.9 (2021, projection)
  - MENAP oil exporters: 26.2; 36.7; 36.8; 39.8; 47.5; 46.7
  - MENAP oil importers: 41.2; 52.9; 54.1; 56.1; 58.9; 54.3
  - Selected country ratios:
    - Bahrain: 117.5; 183.8; 204.6; 226.4; 254.6; 252.3
    - Lebanon: 173.1; 190.3; 192.8; 197.8; 482.8; ...
    - Tunisia: 56.6; 84.2; 97.4; 94.8; 98.3; 104.1

### Banking sector indicators (selected)
- Capital Adequacy Ratios (Percent of risk-weighted assets) — selected snapshots and country examples:
  - Saudi Arabia: 1.8; 2.0; 2.2; 2.1; 2.2; 2.1; 2.4; 1.9; 1.9; 1.8
  - United Arab Emirates (national banks only): 1.5; 1.5; 1.5; 1.7; 1.7; 1.6; 1.8; 1.7; 1.7; 1.6; 0.9
  - Egypt (after tax): 1.5; 2.0; 1.5; 1.5; 1.5; 1.5; 1.4; 1.4; 1.4; 1.4; 1.8
  - Lebanon: 1.2; 1.1; 1.1; 1.0; 1.1; 1.2; 1.2; 0.9; 1.0; 1.1; 0.7; -0.4
  - CCA examples — Armenia: 1.1; 1.2; 1.4; 1.5; 1.5; 1.2; 1.6; 1.4; 1.6; 1.7; 1.5

- Return on Assets (Pre-tax, percent) — selected series:
  - MENAP oil exporters — Saudi Arabia: 1.4; 1.6; 1.7; 1.8; 1.8; 2.0; 1.9; 1.9; 1.9; 1.9
  - United Arab Emirates (national banks only): 6.0; 5.3; 5.8; 5.8; 5.7; 5.6; 5.7; 6.2; 6.4; 6.5; 6.9
  - MENAP oil importers — Egypt (end of fiscal year): 5.8; 4.9; 4.5; 4.3; 4.4; 3.9; 4.1; 4.2; 4.5; 4.2; 4.1
  - Lebanon: 4.9; 5.7; 8.8; 9.0; 9.6; 10.3; 11.0; 11.6; 12.4; 15.2; 20.3
  - CCA highlights — Armenia: 6.7; 5.5; 5.4; 6.3; 6.9; 4.8; 5.0; 5.4; 5.5; 5.5; 5.5

- Nonperforming Loans (90-day basis, percent of total loans): table-level country NPL series provided in source table (see Table 26 in source for full country NPL measures).

*Sources: National authorities; and IMF staff estimates and projections.*

### Section 1

### reo-stat-appendix1020 - Section 1

### Coverage and dataset
- The IMF’s Middle East and Central Asia Department (MCD) countries and territories comprise Afghanistan, Algeria, Armenia, Azerbaijan, Bahrain, Djibouti, Egypt, Georgia, Iran, Iraq, Jordan, Kazakhstan, Kuwait, the Kyrgyz Republic, Lebanon, Libya, Mauritania, Morocco, Oman, Pakistan, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tajikistan, Tunisia, Turkmenistan, the United Arab Emirates, Uzbekistan, the West Bank and Gaza, and Yemen (31 MCD countries).
- All data for Syria are excluded for 2011 onward due to the uncertain political situation.
- Lebanon’s projections for 2021 are omitted due to an unusually high degree of uncertainty.
- All data refer to calendar years except: Afghanistan (March 21 to March 20 until 2011, and December 21 to December 20 thereafter), Iran (March 21 to March 20), and Egypt and Pakistan (July to June) except inflation.
- Data in Tables 7 and 8 correspond to the calendar year for all aggregates and countries, except for Iran, for which the Iranian calendar year (beginning on March 21) is used.
- The 2020 and 2021 data in the tables are projections based on statistical information available through late September 2020.

### Projection assumptions (working hypotheses)
- It is assumed that established policies of national authorities will be maintained.
- Oil price assumptions: US$41.69 a barrel in 2020 and US$46.70 a barrel in 2021.
- Six-month London interbank offered rate (LIBOR) on U.S.-dollar deposits: 0.74 percent in 2020 and 0.41 percent in 2021.
- These are working hypotheses rather than forecasts; uncertainties add to projection margins of error.

### Aggregation, definitions, and table conventions
- In Tables 3, 6, 13, and 14, “oil” includes gas.
- Arithmetically weighted averages are used for all data aggregates except consumer price index, for which geometric averages are used.
- REO aggregates construction:
  - Domestic economy composites (Tables 1, 3, 7–8): weighted by GDP valued at purchasing power parities (PPPs) as a share of total MCD or group GDP.
  - Broad money growth (Table 9): weighted by GDP converted to U.S. dollars at market exchange rates (both GDP and exchange rates averaged over preceding three years).
  - Fiscal data aggregates (Tables 10–16): sums of individual country data after conversion to US dollars at the average market exchange rates in the years indicated, in percent of aggregate GDP in US dollars.
  - External economy nominal composites (Tables 17–19 and 21): sums of individual country data. External economy percent-of-GDP composites (Tables 20 and 22): weighted by GDP in U.S. dollars.
  - Composites in Tables 2, 4, and 5: sums of individual country data.
- Conventions: 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.

### Key statistical tables — headline aggregates and selected series (values preserved verbatim)

Table 1. Real GDP Growth (Annual change; percent) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
- MENAP: 4.6 | 2.4 | 1.8 | 0.9 | -4.4 | 2.9
- MENAP oil exporters: 4.8 | 1.5 | 0.4 | -0.3 | -6.6 | 3.4
- MENAP oil importers: 4.3 | 3.9 | 4.1 | 2.8 | -1.0 | 2.2
- CCA: 7.3 | 4.1 | 4.3 | 4.8 | -2.1 | 3.9
- Memorandum — MENA: 4.6 | 2.0 | 1.2 | 0.8 | -5.0 | 3.2

Table 2. Nominal GDP (Billions of U.S. dollars) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
- MENAP: 2,247.8 | 3,192.8 | 3,454.3 | 3,603.8 | 3,286.6 | 3,502.9
- MENAP oil exporters: 1,653.6 | 2,312.5 | 2,550.1 | 2,685.7 | 2,367.0 | 2,536.3
- MENAP oil importers: 594.2 | 880.3 | 904.1 | 918.1 | 919.5 | 966.6
- CCA: 234.0 | 346.9 | 363.4 | 380.9 | 359.7 | 389.6
- Memorandum — MENA: 2,071.2 | 2,869.3 | 3,122.8 | 3,308.8 | 3,004.8 | 3,208.9

Table 3. Oil Exporters: Oil and Non-Oil Real GDP Growth (Annual change; percent) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
- Non-Oil GDP — MENAP oil exporters: 6.0 | 2.0 | 1.3 | 2.1 | -5.8 | 3.4
- Non-Oil GDP — CCA oil and gas exporters: 7.9 | 4.1 | 3.9 | 5.6 | -1.6 | 3.6
- Oil GDP — MENAP oil exporters: 3.3 | 0.4 | -2.8 | -8.3 | -7.7 | 2.0
- Oil GDP — CCA oil and gas exporters: 7.9 | 6.4 | 3.8 | -0.4 | -5.5 | 1.2
- Memorandum — GCC (Non-Oil GDP): 6.4 | 2.1 | 1.7 | 2.4 | -5.7 | 2.9

Table 4. Crude Oil and Natural Gas Production (Millions of barrels per day) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
- Crude Oil Production — MENAP oil exporters: 24.44 | 27.47 | 27.71 | 26.09 | 23.10 | 23.42
- Crude Oil Production — GCC (memorandum): 15.74 | 17.36 | 17.83 | 17.35 | 16.12 | 16.16
- Natural Gas Production — MENAP oil exporters: 9.45 | 15.68 | 16.00 | 16.05 | 15.73 | 16.48
- Natural Gas Production — GCC (memorandum): 5.39 | 8.89 | 9.18 | 9.35 | 9.29 | 9.70

Table 5. Crude Oil and Natural Gas Exports (Millions of barrels per day) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
- Crude Oil Exports — MENAP oil exporters: 18.06 | 19.77 | 20.16 | 18.53 | 16.13 | 16.05
- Crude Oil Exports — GCC (memorandum): 12.35 | 12.57 | 13.16 | 12.57 | 11.57 | 11.27
- Natural Gas Exports — MENAP oil exporters: 3.59 | 4.81 | 4.89 | 4.83 | 4.32 | 4.72
- Natural Gas Exports — GCC (memorandum): 2.16 | 3.37 | 3.51 | 3.54 | 3.39 | 3.48

Table 6. Breakeven Oil Prices (U.S. dollars per barrel) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
- Fiscal Breakeven Oil Price — MENAP oil exporters (representative entries):
  - Algeria: 102.69 | 91.41 | 101.4 | 106.3 | 118.2 | 135.2
  - Saudi Arabia: 80.0 | 83.7 | 88.6 | 82.6 | 78.2 | 67.9
  - United Arab Emirates: 48.0 | 62.0 | 64.1 | 67.1 | 75.9 | 66.5
- External Breakeven Oil Price — MENAP oil exporters (representative entries):
  - Algeria: 81.49 | 80.11 | 101.7 | 97.3 | 88.9 | 105.7
  - Saudi Arabia: 57.2 | 49.9 | 46.8 | 51.1 | 47.6 | 50.7
  - United Arab Emirates: 52.5 | 28.7 | 28.3 | 26.3 | 29.7 | 17.6
- Notes: Fiscal breakeven is the oil price at which the fiscal balance is zero. External breakeven is the oil price at which the current account balance is zero. Kuwait's fiscal breakeven is before the compulsory 10 percent revenue transfer to the Future Generations Fund including investment income. Yemen is a net oil importer since 2015.

Table 7. Consumer Price Inflation (Year average; percent) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
- MENAP: 6.8 | 7.2 | 8.9 | 7.3 | 9.5 | 9.9
- MENAP oil exporters: 6.5 | 3.5 | 8.0 | 6.6 | 7.5 | 8.4
- MENAP oil importers: 7.7 | 14.1 | 10.3 | 8.6 | 12.6 | 12.3
- CCA: 9.0 | 9.1 | 7.9 | 6.6 | 7.6 | 6.4
- Memorandum — MENA: 6.7 | 7.7 | 9.7 | 7.5 | 9.4 | 10.1

Table 8. Core Consumer Price Inflation (Year average; percent) — Average | 2017 | 2018 | 2019 | 2020 | 2021 (projections)
- MENAP (core): 7.7 | 6.7 | 11.6 | 9.0 | 8.1 | 8.4
- MENAP oil exporters (core): 8.2 | 2.5 | 10.0 | 9.0 | 8.0 | 8.9
- MENAP oil importers (core): 6.0 | 12.5 | 13.8 | 9.0 | 8.2 | 7.9
- Memorandum — MENA (core): 7.9 | 6.9 | 12.7 | 9.2 | 8.1 | 8.9
- Note: Core inflation uses country-specific definitions of core in its calculation.

*Sources: National authorities; and IMF staff estimates and projections.*

### Section 2

### reo-stat-appendix1020 - Section 2

### Broad Money Growth (Annual change; percent)
- MENAP: Average 15.4; 2017 12.6; 2018 10.0; 2019 11.0; 2020 10.9; 2021 11.8
- MENAP oil exporters: Average 16.2; 2017 8.0; 2018 7.1; 2019 10.9; 2020 9.4; 2021 10.3
- MENAP oil importers: Average 13.1; 2017 24.0; 2018 17.0; 2019 11.4; 2020 15.3; 2021 15.9
- CCA: Average 30.2; 2017 11.7; 2018 8.5; 2019 9.3; 2020 9.0; 2021 9.9
- Memorandum — MENA: Average 15.5; 2017 12.5; 2018 10.1; 2019 11.0; 2020 10.3; 2021 11.5
- Selected country examples:
  - Iran, I.R. of: Average 26.1; 2017 22.1; 2018 22.3; 2019 31.4; 2020 22.8; 2021 30.9
  - Saudi Arabia: Average 11.2; 2017 0.3; 2018 2.7; 2019 7.1; 2020 7.5; 2021 3.1
  - Egypt: Average 13.8; 2017 39.3; 2018 18.5; 2019 11.8; 2020 17.5; 2021 14.0
  - Uzbekistan: Average 36.6; 2017 41.0; 2018 13.2; 2019 13.8; 2020 17.1; 2021 17.7

### Table 10 — Central Government Net Lending/Borrowing (Percent of GDP)
- MENAP: Average 1.5; 2017 -5.2; 2018 -2.9; 2019 -4.0; 2020 -8.6; 2021 -6.6
- MENAP oil exporters: Average 3.8; 2017 -4.6; 2018 -1.5; 2019 -2.8; 2020 -8.8; 2021 -6.3
- MENAP oil importers: Average -5.9; 2017 -6.8; 2018 -6.9; 2019 -7.7; 2020 -8.0; 2021 -7.3
- CCA: Average 2.6; 2017 -3.8; 2018 2.8; 2019 1.0; 2020 -5.6; 2021 -3.9
- Selected country examples:
  - Algeria: Average 1.3; 2017 -6.6; 2018 -4.5; 2019 -5.6; 2020 -11.5; 2021 -11.4
  - Egypt: Average -8.9; 2017 -10.9; 2018 -9.7; 2019 -8.1; 2020 -7.9; 2021 -8.5
  - Pakistan: Average -5.0; 2017 -5.7; 2018 -6.4; 2019 -9.5; 2020 -8.6; 2021 -7.3
  - Sudan: Average -2.3; 2017 -6.5; 2018 -7.9; 2019 -10.9; 2020 -6.9; 2021 -4.3

### Table 11 — General Government Fiscal Balance (Percent of GDP)
- MENAP: Average 2.2; 2017 -5.6; 2018 -2.7; 2019 -4.1; 2020 -10.3; 2021 -7.6
- MENAP oil exporters: Average 4.8; 2017 -5.2; 2018 -1.2; 2019 -3.0; 2020 -11.2; 2021 -7.7
- MENAP oil importers: Average -5.9; 2017 -6.6; 2018 -6.9; 2019 -7.3; 2020 -7.9; 2021 -7.3
- CCA: Average 1.6; 2017 -2.8; 2018 1.9; 2019 0.5; 2020 -4.9; 2021 -3.3
- Memorandum — MENA: Average 2.7; 2017 -5.6; 2018 -2.3; 2019 -3.7; 2020 -10.6; 2021 -7.7
- Selected country examples:
  - Libya: 2000–16 -9.0; 2017 -43.5; 2018 -0.2; 2019 2.2; 2020 -102.9; 2021 -43.2
  - United Arab Emirates: Average 6.1; 2017 -2.0; 2018 1.9; 2019 -0.8; 2020 -9.9; 2021 -5.1
  - Egypt: Average -8.5; 2017 -10.6; 2018 -9.5; 2019 -7.4; 2020 -7.5; 2021 -8.2
  - West Bank and Gaza: Average -18.2; 2017 -7.3; 2018 -6.6; 2019 -7.4; 2020 -15.4; 2021 -12.7

### Table 12 — General Government Total Revenue, Excluding Grants (Percent of GDP)
- MENAP: Average 31.5; 2017 25.2; 2018 28.4; 2019 27.0; 2020 23.1; 2021 24.6
- MENAP oil exporters: Average 35.5; 2017 27.5; 2018 31.7; 2019 29.9; 2020 25.0; 2021 26.6
- MENAP oil importers: Average 19.7; 2017 19.0; 2018 19.1; 2019 18.4; 2020 18.3; 2021 19.3
- CCA: Average 26.5; 2017 22.6; 2018 24.2; 2019 23.7; 2020 21.1; 2021 21.5
- Memorandum — MENA: Average 33.1; 2017 26.3; 2018 29.8; 2019 28.2; 2020 23.9; 2021 25.4
- Selected country examples:
  - Kuwait: 65.4; 2017 57.7; 2018 58.4; 2019 58.1; 2020 56.3; 2021 51.1
  - Libya: 58.0; 2017 52.4; 2018 85.6; 2019 104.0; 2020 62.0; 2021 63.3
  - Egypt: 23.5; 2017 21.3; 2018 20.6; 2019 20.1; 2020 19.1; 2021 19.9
  - Morocco: 25.6; 2017 25.5; 2018 25.8; 2019 25.6; 2020 27.2; 2021 26.4

### Table 13 — Oil Exporters: General Government Non-Oil Fiscal Balance (Percent of non-oil GDP)
- MENAP oil exporters: Average -40.8; 2017 -34.9; 2018 -38.2; 2019 -34.3; 2020 -33.0; 2021 -30.2
- CCA oil and gas exporters: Average -11.8; 2017 -15.0; 2018 -10.9; 2019 -12.3; 2020 -14.6; 2021 -13.5
- GCC: Average -45.1; 2017 -34.6; 2018 -37.6; 2019 -34.9; 2020 -33.8; 2021 -30.1
- Selected country examples:
  - Libya: Average -187.9; 2017 -457.8; 2018 -395.3; 2019 -373.9; 2020 -465.5; 2021 -377.5
  - Kuwait: Average -56.5; 2017 -55.9; 2018 -63.3; 2019 -62.1; 2020 -68.7; 2021 -68.4
  - Saudi Arabia: Average -50.6; 2017 -37.0; 2018 -40.3; 2019 -35.9; 2020 -30.7; 2021 -27.4

### Table 14 — Oil Exporters: General Government Non-Oil Revenue (Percent of non-oil GDP)
- MENAP oil exporters: Average 13.1; 2017 14.8; 2018 17.7; 2019 20.1; 2020 16.8; 2021 19.2
- CCA oil and gas exporters: Average 21.9; 2017 17.6; 2018 17.5; 2019 16.5; 2020 16.8; 2021 16.6
- Memorandum — GCC: Average 14.2; 2017 14.9; 2018 16.3; 2019 18.1; 2020 18.4; 2021 20.0
- Selected country examples:
  - Algeria: 18.5; 2017 26.0; 2018 25.1; 2019 23.9; 2020 21.7; 2021 22.1
  - Kuwait: 33.8; 2017 36.2; 2018 34.5; 2019 35.2; 2020 34.9; 2021 30.4
  - Saudi Arabia: 9.6; 2017 10.2; 2018 15.2; 2019 16.4; 2020 19.3; 2021 21.0

### Table 15 — Total Government Gross Debt (Percent of GDP)
- MENAP: Average 37.6; 2017 46.3; 2018 45.6; 2019 49.6; 2020 58.5; 2021 58.6
- MENAP oil exporters: Average 25.4; 2017 31.5; 2018 31.6; 2019 36.4; 2020 45.8; 2021 46.6
- MENAP oil importers: Average 72.2; 2017 85.0; 2018 84.8; 2019 87.9; 2020 90.9; 2021 90.0
- CCA: Average 16.2; 2017 25.0; 2018 24.7; 2019 26.0; 2020 30.5; 2021 30.9
- Memorandum — MENA: Average 35.2; 2017 44.4; 2018 43.1; 2019 46.8; 2020 56.3; 2021 56.6
- Selected country examples:
  - Egypt: Average 82.2; 2017 103.2; 2018 92.7; 2019 83.8; 2020 86.6; 2021 90.6
  - Lebanon: 2000–16 ...; 2017 149.7; 2018 154.9; 2019 174.5; 2020 171.7; 2021 ...
  - Sudan: Average 81.9; 2017 159.2; 2018 186.7; 2019 201.6; 2020 259.4; 2021 250.7
  - Bahrain: Average 33.6; 2017 88.1; 2018 95.0; 2019 103.4; 2020 128.3; 2021 130.6

### Table 16 — MENAP: Total Government Net Debt (Percent of GDP)
- MENAP: Average 22.1; 2017 33.3; 2018 35.7; 2019 41.8; 2020 50.3; 2021 51.3
- MENAP oil exporters: Average 1.2; 2017 8.6; 2018 13.9; 2019 23.1; 2020 34.2; 2021 35.8
- MENAP oil importers: Average 66.7; 2017 78.5; 2018 77.1; 2019 80.1; 2020 80.7; 2021 81.0
- Memorandum — MENA: Average 17.7; 2017 28.6; 2018 30.8; 2019 37.3; 2020 46.6; 2021 47.9
- Selected country examples:
  - Egypt: Average 64.8; 2017 93.9; 2018 81.3; 2019 74.4; 2020 78.0; 2021 82.7
  - Jordan: Average 71.7; 2017 73.6; 2018 73.9; 2019 77.3; 2020 88.3; 2021 88.7
  - Lebanon: Average 142.0; 2017 144.1; 2018 150.6; 2019 169.2; 2020 167.2; 2021 ...

### Table 17 — Exports of Goods and Services (Billions of U.S. dollars)
- MENAP: Average 949.4; 2017 1,228.5; 2018 1,406.0; 2019 1,301.6; 2020 962.6; 2021 1,082.0
- MENAP oil exporters: Average 806.9; 2017 1,057.2; 2018 1,214.2; 2019 1,102.1; 2020 807.0; 2021 915.5
- MENAP oil importers: Average 142.5; 2017 171.3; 2018 191.8; 2019 199.5; 2020 155.6; 2021 166.5
- CCA: Average 92.7; 2017 110.0; 2018 136.4; 2019 138.7; 2020 104.8; 2021 117.2
- Memorandum — MENA: Average 926.1; 2017 1,199.8; 2018 1,374.4; 2019 1,269.9; 2020 933.8; 2021 1,051.9
- Selected country examples:
  - Saudi Arabia: Average 226.7; 2017 240.0; 2018 314.9; 2019 285.8; 2020 185.8; 2021 219.1
  - United Arab Emirates: Average 216.3; 2017 384.1; 2018 392.9; 2019 387.2; 2020 317.4; 2021 364.9
  - Egypt: Average 35.5; 2017 37.1; 2018 47.3; 2019 52.9; 2020 48.3; 2021 57.2

### Table 18 — Imports of Goods and Services (Billions of U.S. dollars)
- MENAP: Average 783.9; 2017 1,223.5; 2018 1,253.0; 2019 1,223.6; 2020 1,036.5; 2021 1,127.4
- MENAP oil exporters: Average 582.0; 2017 929.3; 2018 936.3; 2019 909.9; 2020 782.4; 2021 864.3
- MENAP oil importers: Average 201.9; 2017 294.2; 2018 316.7; 2019 313.7; 2020 254.1; 2021 263.1
- Selected country examples:
  - Saudi Arabia: Average 145.8; 2017 202.0; 2018 209.6; 2019 210.0; 2020 174.1; 2021 201.0
  - United Arab Emirates: Average 177.0; 2017 318.1; 2018 307.7; 2019 306.5; 2020 270.4; 2021 300.7
  - Egypt: Average 47.4; 2017 68.8; 2018 73.5; 2019 77.9; 2020 70.3; 2021 57.0

*Sources: National authorities; and IMF staff estimates and projections.*

### Section 3

### reo-stat-appendix1020 - Section 3

### Current Account Balances (Billions of U.S. dollars)
- MENAP: 156.0 (Average 2000–16); -19.1 (2017); 107.7 (2018); 32.6 (2019); -118.4 (2020); -92.0 (2021, projection)
- MENAP oil exporters: 179.2 (Average 2000–16); 40.7 (2017); 168.2 (2018); 86.1 (2019); -80.7 (2020); -49.7 (2021, projection)
- Selected country balances (2017, 2018, 2019, 2020, 2021 projections where available):
  - Algeria: 8.1; -22.1; -16.7; -17.1; -15.9; -25.8
  - Bahrain: 1.1; -1.5; -2.4; -0.8; -2.8; -2.1
  - Iran, I.R. of: 16.4; 15.3; 26.7; 6.6; -3.1; 2.0
  - Kuwait: 33.2; 9.6; 20.4; 12.8; -7.4; -3.2
  - Saudi Arabia: 62.9; 10.5; 72.0; 46.9; -17.1; -11.7
  - United Arab Emirates: 26.3; 27.5; 40.5; 35.4; 12.6; 27.9
  - Egypt: -3.1; -14.4; -6.0; -10.9; -11.6; -15.7
  - Lebanon: -6.6; -14.0; -15.5; -14.4; -3.1; ...
  - Tunisia: -2.3; -4.1; -4.4; -3.3; -3.2; -3.5
  - West Bank and Gaza: -1.3; -2.1; -2.1; -1.8; -1.6; -2.2
- CCA (Central Asia/Caucasus/Afghanistan) aggregates:
  - CCA: 3.0; -7.9; 0.8; -5.7; -14.8; -14.7
  - CCA oil and gas exporters: 5.6; -5.9; 4.5; -3.1; -10.4; -10.8
  - CCA oil and gas importers: -2.7; -2.0; -3.7; -2.7; -4.5; -3.9

### Current Account Balances (Percent of GDP)
- MENAP: 7.3 (Average 2000–16); -0.6 (2017); 3.1 (2018); 0.9 (2019); -3.6 (2020); -2.6 (2021, projection)
- MENAP oil exporters: 10.7; 1.8; 6.6; 3.2; -3.4; -2.0
- Country highlights (selected percent-of-GDP series):
  - Algeria: 8.1; -13.2; -9.6; -10.1; -10.8; -16.6
  - Bahrain: 5.1; -4.1; -6.5; -2.1; -8.0; -5.7
  - Kuwait: 29.3; 8.0; 14.5; 9.4; -6.8; -2.8
  - Qatar: 18.9; 4.0; 9.1; 2.4; -0.6; 2.6
  - Saudi Arabia: 13.7; 1.5; 9.2; 5.9; -2.5; -1.6
  - Egypt: -0.6; -6.1; -2.4; -3.6; -3.2; -4.2
  - Lebanon: -19.4; -26.3; -28.2; -27.4; -16.3; ...
  - Tunisia: -5.8; -10.2; -11.2; -8.5; -8.3; -8.7
  - West Bank and Gaza: -16.7; -13.2; -13.1; -10.8; -11.1; -13.7
- CCA percent-of-GDP:
  - CCA: 0.2; -2.3; 0.2; -1.5; -4.1; -3.8
  - CCA oil and gas exporters: 1.5; -1.9; 1.4; -0.9; -3.3; -3.2
  - CCA oil and gas importers: -8.8; -4.6; -8.1; -5.6; -10.0; -8.3

### Gross Official Reserves (Billions of U.S. dollars)
- MENAP total: 817.2 (Average 2000–16); 1,130.0 (2017); 1,168.9 (2018); 1,062.2 (2019); 926.5 (2020); 872.6 (2021, projection)
- MENAP oil exporters: 728.2; 985.0; 1,024.6; 926.7; 804.9; 736.7
- MENAP oil importers: 89.1; 145.0; 144.3; 135.4; 121.6; 135.9
- Selected country reserves (2017–2021/projections where listed):
  - Algeria: 107.4; 96.1; 78.6; 61.5; 44.6; 21.9
  - Iran, I.R. of: 68.3; 111.7; 121.6; 12.7; 8.8; 10.5
  - Saudi Arabia: 355.2; 493.8; 494.1; 497.3; 439.3; 401.1
  - United Arab Emirates (central bank only): 42.0; 95.4; 99.5; 108.4; 102.3; 111.3
  - Egypt: 20.9; 30.7; 43.5; 43.9; 37.2; 40.4
  - Lebanon (excludes gold and encumbered assets): 20.9; 40.6; 36.5; 24.0; 15.8; ...
  - Tunisia: 6.2; 5.6; 5.2; 7.4; 7.0; 6.8
  - CCA aggregate: 39.2; 72.8; 72.3; 74.3; 83.4; 82.9
  - CCA oil and gas exporters: 34.9; 64.4; 63.6; 64.5; 73.4; 73.1

### Gross Official Reserves (Months of Imports)
- MENAP: 9.8 (Average 2000–16); 10.2 (2017); 10.7 (2018); 11.4 (2019); 9.4 (2020); 8.4 (2021, projection)
- MENAP oil exporters: 11.2; 11.7; 12.5; 13.0; 10.4; 9.1
- MENAP oil importers: 5.3; 5.6; 5.6; 6.5; 5.9; 6.0
- Selected country reserve months (2017–2021/projections where listed):
  - Algeria: 26.7; 19.2; 17.4; 17.7; 10.1; 5.2
  - Egypt: 5.7; 5.0; 6.7; 7.5; 7.8; 7.3
  - Jordan: 6.6; 8.1; 7.9; 9.7; 9.0; 9.1
  - Tunisia: 3.4; 2.6; 2.5; 3.5; 4.1; 3.6
  - CCA: 5.4; 7.7; 7.1; 8.5; 8.6; 7.9
  - CCA oil and gas exporters: 6.1; 8.8; 8.1; 9.3; 9.8; 9.1
  - Uzbekistan: 10.9; 14.4; 12.2; 15.5; 15.4; 12.9

### Total Gross External Debt (Percent of GDP)
- MENAP aggregate: 30.3 (Average 2000–16); 41.2 (2017); 41.4 (2018); 44.0 (2019); 50.7 (2020); 48.9 (2021, projection)
- MENAP oil exporters: 26.2; 36.7; 36.8; 39.8; 47.5; 46.7
- MENAP oil importers: 41.2; 52.9; 54.1; 56.1; 58.9; 54.3
- Selected country external debt ratios:
  - Bahrain: 117.5; 183.8; 204.6; 226.4; 254.6; 252.3
  - Egypt: 22.5; 41.3; 37.4; 34.1; 34.5; 37.2
  - Jordan: 85.6; 68.4; 67.9; 68.0; 77.6; 79.9
  - Lebanon: 173.1; 190.3; 192.8; 197.8; 482.8; ...
  - Morocco: 29.6; 33.7; 32.7; 33.0; 37.7; 38.5
  - Pakistan: 32.8; 27.0; 33.0; 43.6; 43.8; 41.9
  - Tunisia: 56.6; 84.2; 97.4; 94.8; 98.3; 104.1
  - CCA: 57.8; 75.7; 72.9; 67.3; 74.5; 70.0
  - CCA oil and gas exporters: 57.2; 74.6; 71.8; 65.5; 71.6; 66.7

### Banking Sector Indicators — Capital Adequacy Ratios (Percent of risk-weighted assets)
- Table-level notes: ratios refer to percent of risk-weighted assets; conventional retail banks only for many series; national banks only for some.
- MENAP (selected quarterly series, Dec-16 to Mar-20 snapshots for aggregates and countries where provided):
  - MENAP (oil exporters, sample entries): Algeria: 1.9; 2.0; ...; 2.4; ...
  - Bahrain (conventional retail banks only): 1.5; 1.5; 0.4; 0.8; 1.1; 1.5; ...
  - Saudi Arabia: 1.8; 2.0; 2.2; 2.1; 2.2; 2.1; 2.4; 1.9; 1.9; 1.8
  - United Arab Emirates (national banks only): 1.5; 1.5; 1.5; 1.7; 1.7; 1.6; 1.8; 1.7; 1.7; 1.6; 0.9
  - Egypt (after tax): 1.5; 2.0; 1.5; 1.5; 1.5; 1.5; 1.4; 1.4; 1.4; 1.4; 1.8
  - Lebanon: 1.2; 1.1; 1.1; 1.0; 1.1; 1.2; 1.2; 0.9; 1.0; 1.1; 0.7; -0.4
  - CCA examples:
    - Armenia: 1.1; 1.2; 1.4; 1.5; 1.5; 1.2; 1.6; 1.4; 1.6; 1.7; 1.5
    - Georgia (cumulative and annualized): 3.1; 3.1; 3.0; 3.0; 2.7; 3.0; 2.4; 2.1; 2.4; 2.5; -7.1
    - Tajikistan: -2.8; 0.4; 1.4; 1.4; 1.7; 2.0; 1.9; 1.9; 2.5; 2.3; 2.1; 3.5
    - Uzbekistan: 2.0; 1.9; 2.0; 1.8; 1.6; 2.1; 2.0; 2.0; 2.2; 2.2; 2.4

### Banking Sector Indicators — Return on Assets (Pre-tax, percent)
- MENAP oil exporters (Dec-16 to Mar-20 snapshots, selected):
  - Algeria: 11.9; 13.0; ...; 12.7; ...
  - Bahrain: 5.3; 5.5; 5.9; 5.8; 5.8; 5.5; ...
  - Iraq: 12.7; 14.8; 15.2; 15.7; 17.0; 17.5; 18.2; ...
  - Saudi Arabia: 1.4; 1.6; 1.7; 1.8; 1.8; 2.0; 1.9; 1.9; 1.9; 1.9
  - United Arab Emirates (national banks only): 6.0; 5.3; 5.8; 5.8; 5.7; 5.6; 5.7; 6.2; 6.4; 6.5; 6.9
- MENAP oil importers (selected series):
  - Afghanistan, Rep. of: 12.7; 12.2; 12.0; 11.3; 11.5; 8.9; 10.9; ...
  - Djibouti: 22.5; 16.5; 15.9; 16.2; 18.3; 18.1; 18.1; 18.2; 16.6; 17.1; 16.0; 15.0
  - Egypt (data refer to end of fiscal year): 5.8; 4.9; 4.5; 4.3; 4.4; 3.9; 4.1; 4.2; 4.5; 4.2; 4.1
  - Lebanon: 4.9; 5.7; 8.8; 9.0; 9.6; 10.3; 11.0; 11.6; 12.4; 15.2; 20.3
  - Tunisia: 15.6; 13.9; 13.9; 13.9; 14.2; 13.4; 13.6; 13.7; 13.9; 13.9; 13.3
- CCA series highlights:
  - Armenia (defined as loans overdue between at least 1 and 270 days): 6.7; 5.5; 5.4; 6.3; 6.9; 4.8; 5.0; 5.4; 5.5; 5.5; 5.5
  - Georgia: 3.4; 2.8; 2.4; 2.4; 2.7; 2.7; 3.0; 2.9; 2.6; 1.9; 2.2
  - Tajikistan (overdue by 30 days or more): 54.0; 36.5; 34.3; 32.6; 32.4; 31.1; 30.0; 25.5; 31.5; 26.1; 29.2

### Nonperforming Loans (90-day basis, percent of total loans)
- Table title present; detailed country-level NPL series included in the source table (full series not reproduced here). See Table 26 for country NPL measures as reported.

*Sources: National authorities; and IMF staff estimates and projections.*

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_Source: https://www.imf.org/-/media/files/publications/reo/mcd-cca/2020/october/english/reo-stat-appendix1020.pdf_