## statisticalappendix

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---

### Scope and coverage
- The IMF’s Middle East and Central Asia (ME&CA) countries and territories comprise Afghanistan, Algeria, Armenia, Azerbaijan, Bahrain, Djibouti, Egypt, Georgia, the Islamic Republic of Iran, Iraq, Jordan, Kazakhstan, Kuwait, the Kyrgyz Republic, Lebanon, Libya, Mauritania, Morocco, Oman, Pakistan, Qatar, Saudi Arabia, Somalia, Sudan, the Syrian Arab Republic, Tajikistan, Tunisia, Turkmenistan, the United Arab Emirates, Uzbekistan, the West Bank and Gaza, and Yemen.
- The statistical appendix tables contain data for 32 ME&CA countries and territories.
- Data revisions reflect changes in methodology and/or revisions provided by country authorities.
- The 2022 and 2023 data in the tables are projections based on statistical information available through late September 2022, unless otherwise noted.
- Calendar-year reference except where fiscal-year definitions are specified.

### Assumptions underlying October 2022 REO projections
- Established policies of national authorities are assumed to be maintained.
- Oil price assumptions:
  - US$98.18 a barrel in 2022.
  - US$85.52 a barrel in 2023.
  - Footnote: Simple average of prices of U.K. Brent, Dubai Fateh, and West Texas Intermediate crude oil.
- Six-month LIBOR on US dollar deposits assumed to average:
  - 2.5 percent in 2022.
  - 4.8 percent in 2023.
- Projections described as working hypotheses rather than forecasts.

### Data omissions and special cases
- Afghanistan: data and projections for 2021−23 are omitted.
- Lebanon: all projections for 2021−23 are omitted.
- Pakistan: FY2022/23 projections based on information available as of end-August 2022 and do not include impact of recent floods.
- Syrian Arab Republic: all data omitted and excluded from aggregates from 2011 onward.
- Iran, Qatar, and Turkmenistan: national-account base-year and estimation notes appear in table footnotes.

### Temporal conventions
- All data refer to calendar years, except:
  - Afghanistan (March 21 to March 20 until 2011, and December 21 to December 20 thereafter).
  - Islamic Republic of Iran (March 21 to March 20).
  - Egypt and Pakistan (July to June) — except inflation.
- Tables 7 and 8: calendar year for all aggregates and countries, except Islamic Republic of Iran, which uses the Iranian calendar year (beginning on March 21).

### Fiscal and sectoral definition updates
- Definitions for general government overall fiscal balance and non-oil fiscal balance in Tables 11 and 13 updated in line with GFSM 2001: calculated as general government net lending/borrowing excluding net acquisition of financial assets: policy lending.
- For Algeria, starting with October 2022 REO, total government expenditure and net lending/borrowing include policy lending by the government.
- In Tables 3, 6, 13, and 14, “oil” includes gas.

### Aggregation methodologies
- Arithmetically weighted averages used for all data aggregates except consumer price index (geometric averages).
- Long-term averages calculated if data are available for the last ten consecutive years within 2000–18.
- REO aggregates constructed with varied weights:
  - Domestic economy composites (Tables 1, 3, 7–8): weighted by GDP at PPPs.
  - Broad money growth (Table 9): weighted by GDP converted to US dollars at market exchange rates (GDP and exchange rates averaged over preceding three years).
  - Fiscal aggregates (Tables 10–16): sums of individual country data after conversion to US dollars at average market exchange rates; 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 US dollars.
  - Composites in Tables 2, 4, and 5: sums of individual country data.

### Publication conventions
- 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.

### Country groupings and acronyms
- ME&CA divided into three nonoverlapping groups: Oil Exporters (OE); Emerging Market and Middle-Income Countries (EM&MI); Low-Income Developing Countries (LIC).
- Selected group listings (abbreviated):
  - ME&CA OE includes: Algeria (ALG), Azerbaijan (AZE), Bahrain (BHR), IRN, IRQ, KAZ, KWT, LBY, OMN, QAT, SAU, TKM, UAE.
  - ME&CA EM&MI includes: ARM, EGY, GEO, JOR, LBN, MAR, PAK, SYR, TUN, WBG.
  - ME&CA LIC includes: AFG, DJI, KGZ, MRT, SOM, SDN, TJK, UZB, YEM.
  - CCA: Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, Uzbekistan.
  - GCC: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates.
  - MENAP: MENA, Afghanistan, and Pakistan.
  - FCS and other groupings defined in source tables.

### Key statistics — Table 1: Real GDP Growth (year-over-year percent change)
- Middle East and Central Asia: Average 2000–18 = 4.61; 2019 = 1.7; 2020 = -2.7; 2021 = 4.5; 2022 (projection) = 5.0; 2023 (projection) = 3.6.
- Oil Exporters: Average 2000–18 = 4.6; 2019 = 0.5; 2020 = -3.8; 2021 = 4.5; 2022 = 4.9; 2023 = 3.5.
- Emerging Market and Middle-Income Countries: Average 2000–18 = 4.4; 2019 = 3.7; 2020 = -0.9; 2021 = 4.5; 2022 = 5.4; 2023 = 3.7.
- Low-Income Developing Countries: Average 2000–18 = 4.4; 2019 = 2.9; 2020 = -1.4; 2021 = 4.3; 2022 = 3.2; 2023 = 3.8.
- Selected country values (2000–18 average; 2019; 2020; 2021; 2022; 2023):
  - Algeria: 3.4; 1.0; -5.1; 3.5; 4.7; 2.6.
  - Egypt: 4.6; 5.5; 3.5; 3.3; 6.6; 4.4.
  - Saudi Arabia: 3.7; 0.3; -4.1; 3.2; 7.6; 3.7.
  - Libya: 4.0; -11.2; -29.5; 28.3; -18.5; 17.9.
  - Lebanon: 3.5; -6.9; -25.9; . . . . . . . . (projections omitted).
- Regional memoranda:
  - CCA: 6.9; 4.1; -2.1; 5.6; 3.8; 4.0.
  - MENA: 4.4; 1.0; -3.1; 4.1; 5.0; 3.6.
  - GCC: 4.3; 1.0; -4.5; 3.1; 6.5; 3.6.
  - Fragile states and conflict-affected countries: 6.1; 0.5; -13.0; 7.4; 2.6; 5.3.

### Key statistics — Table 2: Nominal GDP (Billions of U.S. dollars)
- Middle East and Central Asia total (Billions USD): Average 2000–18 = 2,667.0; 2019 = 4,191.4; 2020 = 1,147.7; 2021 = 2,244.8; 2022 (proj) = 2,766.6; 2023 (proj) = 4,406.5.
- Oil Exporters total (Billions USD): Average 2000–18 = 1,940.3; 2019 = 3,069.0; 2020 = 3,020.7; 2021 = 4,005.7; 2022 = 4,925.4; 2023 = 5,026.9.
- Emerging Market and Middle-Income Countries total (Billions USD): Average 2000–18 = 599.5; 2019 = 953.3; 2020 = 959.1; 2021 = 1,076.6; 2022 = 1,159.8; 2023 = 1,170.2.
- Low-Income Developing Countries total (Billions USD): Average 2000–18 = 127.2; 2019 = 169.0; 2020 = 167.9; 2021 = 162.4; 2022 = 191.4; 2023 = 209.4.
- Selected country nominal GDP (Billions USD):
  - Saudi Arabia: 492.1; 803.6; 703.4; 833.5; 1,010.6; 996.4.
  - Iran: 380.5; 651.5; 971.2; 1,589.9; 1,973.7; 2,044.2.
  - Egypt: 196.3; 317.9; 382.5; 423.1; 469.1; 471.4.
  - United Arab Emirates: 271.1; 417.2; 358.9; 419.8; 503.9; 519.0.
  - Pakistan: 249.8; 321.1; 300.4; 348.2; . . . . . (2022/23 projections noted separately).
- Regional memoranda:
  - CCA total (Billions USD): 254.9; 391.0; 371.3; 433.0; 510.6; 556.7.
  - MENA total (Billions USD): 2,229.1; 3,460.5; 3,455.8; 4,463.5; 5,389.6; 5,482.7.
  - GCC total (Billions USD): 1,058.6; 1,660.1; 1,421.3; 1,693.5; 2,072.0; 2,077.9.

### Key statistics — Table 3: Oil Exporters — Real Oil and Non-Oil GDP Growth (percent)
- REAL NON-OIL GDP GROWTH (Oil exporters): Average 2000–18 = 5.7; 2019 = 2.4; 2020 = -3.4; 2021 = 5.5; 2022 = 3.6; 2023 = 3.4.
- REAL OIL GDP GROWTH (Oil exporters): Average 2000–18 = 3.2; 2019 = -8.2; 2020 = -4.0; 2021 = 4.6; 2022 = 6.9; 2023 = 3.7.
- Selected country values (non-oil / oil real growth):
  - Algeria non-oil: 4.8; 2.2; -4.1; 2.3; 4.1; 3.1. Algeria oil: -0.4; -4.9; -10.2; 10.3; 7.5; 0.0.
  - Iraq non-oil: 10.1; 9.0; -20.2; 21.1; 4.4; 3.8. Iraq oil: 10.7; 3.8; -12.6; -0.7; 13.0; 4.1.
  - Libya non-oil: 4.0; -11.6; -19.4; 5.8; -5.8; 11.5. Libya oil: 8.8; -10.9; -35.5; 45.0; -25.4; 22.2.
- Regional memoranda:
  - CCA oil and gas exporters (non-oil): 7.2; 3.9; -2.1; 5.3; 3.5; 3.2.
  - MENA oil exporters (oil): 2.9; -9.6; -3.7; 4.8; 7.9; 3.3.

### Key statistics — Table 4: Crude Oil and Natural Gas Production
- CRUDE OIL PRODUCTION (Oil exporters total, Millions b/d): Average 2000–18 = 26.82; 2019 = 29.01; 2020 = 26.03; 2021 = 27.19; 2022 (proj) = 29.81; 2023 (proj) = 31.07.
- Selected country crude oil production (Millions b/d):
  - Algeria: 1.13; 1.03; 0.95; 0.92; 0.98; 0.98.
  - Iran: 3.55; 2.19; 2.02; 2.48; 2.58; 2.62.
  - Iraq: 2.72; 4.58; 4.00; 3.97; 4.49; 4.67.
  - Saudi Arabia: 9.09; 9.81; 9.22; 9.10; 10.62; 11.02.
  - United Arab Emirates: 2.54; 3.06; 2.77; 2.74; 3.08; 3.25.
- NATURAL GAS PRODUCTION (Oil exporters total, as listed): Average 2000–18 = 10.69; 2019 = 17.21; 2020 = 17.12; 2021 = 18.35; 2022 = 18.91; 2023 = 19.48.
- Selected country natural gas production:
  - Iran: 2.37; 4.12; 4.24; 4.33; 4.46; 4.60.
  - Qatar: 2.46; 4.52; 4.56; 4.56; 4.70; 4.82.
  - United Arab Emirates: 0.89; 1.13; 1.16; 1.19; 1.20; 1.21.
- Memoranda:
  - MENA oil exporters crude: 24.59; 26.19; 23.39; 24.56; 27.19; 28.30 (Millions b/d).
  - GCC crude: 15.93; 17.29; 16.12; 15.98; 18.24; 18.93 (Millions b/d).
  - MENA oil exporters natural gas: 9.79; 15.37; 15.34; 16.12; 16.71; 17.16.

### Crude oil and natural gas exports (Section 2 — Millions of barrels per day)
- CRUDE OIL EXPORTS (ME&CA Oil Exporters series): 19.67 21.06 18.81 19.46 22.11 23.19.
- Selected country crude oil exports (sequence as presented):
  - Algeria: 0.67 0.48 0.36 0.37 0.38 0.38.
  - Iran: 1.87 0.53 0.40 0.75 0.85 0.89.
  - Iraq: ... 3.97 3.43 3.44 3.88 4.04.
  - Saudi Arabia: 6.89 7.04 6.63 6.42 7.89 8.24.
  - United Arab Emirates: 2.30 2.47 2.43 2.31 2.66 2.80.
- Memoranda:
  - GCC: 12.45 13.04 12.29 11.94 14.25 14.83.
  - MENA oil exporters: 17.87 18.92 16.72 17.48 20.10 21.05.
- NATURAL GAS EXPORTS (ME&CA Oil Exporters series): 4.11 5.92 5.62 6.32 6.41 6.43.
- Selected country natural gas exports:
  - Algeria: 1.20 1.02 0.92 1.19 1.27 1.15.
  - Qatar: 1.55 2.63 2.62 2.61 2.62 2.63.
  - Turkmenistan: ... 0.65 0.59 0.79 0.73 0.78.
  - United Arab Emirates: 0.43 0.50 0.47 0.46 0.50 0.53.
- Memoranda:
  - GCC: 2.31 3.61 3.51 3.50 3.58 3.61.
  - MENA oil exporters: 3.70 5.01 4.76 5.09 5.24 5.16.

### Breakeven oil prices — Table 6 (U.S. dollars per barrel)
- FISCAL BREAKEVEN OIL PRICE (MENAP oil exporters examples; sequences preserved):
  - Algeria: ... 106.38 89.71 111.71 169.21 149.2.
  - Azerbaijan: 52.24 42.86 66.55 8.14 6.73 5.7.
  - Bahrain: 81.89 8.91 120.71 131.91 127.6 124.1.
  - Iran: 80.91 66.65 48.12 63.62 91.53 72.6.
  - Iraq: ... 52.35 50.25 54.26 0.76 0.6.
  - Kazakhstan: ... 68.21 57.11 53.91 35.81 118.2.
  - Kuwait: ... 57.68 0.16 7.75 6.75 7.8.
  - Libya: 73.13 36.01 141.75 22.76 9.75 4.1.
  - Oman: ... 64.78 64.47 6.77 0.97 5.1.
  - Qatar: 44.85 0.55 0.50 0.54 9.04 8.14 9.9 (note: preserve original spacing and ordering).
  - Saudi Arabia: ... 81.87 76.38 4.67 3.36 6.8.
  - Turkmenistan: ... 37.64 0.53 2.63 7.33 7.0.
  - United Arab Emirates: 49.86 2.56 1.46 1.36 3.96 5.8.
- EXTERNAL BREAKEVEN OIL PRICE (MENAP oil exporters examples):
  - Algeria: ... 97.68 0.27 79.47 9.78 8.3.
  - Azerbaijan: 56.27 9.79 164.86 9.51 23.6 144.0.
  - Bahrain: 51.17 1.98 4.83 4.75 2.25 7.9.
  - Iran: 39.74 9.73 6.84 4.74 1.93 37.8.
  - Iraq: ... 59.35 53.75 62.70 0.76 1.0.
  - Kazakhstan: ... 101.97 5.71 107.44 8.25 2.2.
  - Kuwait: ... 46.03 8.14 2.74 5.04 5.4.
  - Libya: 54.24 7.35 8.04 6.46 8.65 51.3.
  - Oman: 48.76 5.67 2.57 4.17 6.57 0.6.
  - Qatar: ... 56.64 3.54 3.55 3.04 5.3.
  - Saudi Arabia: ... 53.35 0.85 7.85 2.04 9.6.
  - Turkmenistan: ... 31.33 1.92 8.92 7.72 4.7.
  - United Arab Emirates: ... 24.31 8.51 6.18 2.62 7.3.

### Prices, inflation, and money aggregates
- Table 7. Consumer Price Inflation (YoY percent change):
  - Middle East and Central Asia: 7.4 7.7 10.5 12.9 13.8 13.1.
  - Oil Exporters: 6.9 6.1 8.7 11.1 12.6 11.4.
  - Selected country figures (Average / Projections):
    - Algeria: 4.0 2.0 2.4 7.2 9.7 8.7.
    - Iran: 17.3 34.6 36.4 0.1 40.0 40.0.
    - Saudi Arabia: 2.0 -2.1 3.4 3.1 2.7 2.2.
  - Regional/subgroup:
    - Emerging Market and Middle-Income Countries: 7.3 8.3 8.2 7.8 11.2 13.9.
    - Low-Income Developing Countries: 13.6 19.5 39.3 69.5 42.6 25.9.
    - MENA: 7.3 8.1 10.9 14.2 14.2 12.4.
    - GCC: 2.5 -1.5 1.2 2.2 3.6 2.6.
- Table 8. Core Consumer Price Inflation (YoY percent change):
  - Middle East and Central Asia: 9.0 8.8 10.9 13.7 13.3 13.4.
  - Oil Exporters: 8.2 9.0 11.9 14.5 14.0 13.5.
  - Selected country figures:
    - Algeria: 3.8 3.2 3.3 6.0 8.1 8.1.
    - Iran: 21.23 32.83 36.74 0.34 40.6 39.1.
    - Saudi Arabia: 0.5 -0.4 3.5 4.9 1.2 2.4.
  - Regional/subgroup:
    - MENA: 9.3 9.3 12.0 15.9 14.3 13.7.
    - GCC: 0.5 -0.4 2.5 4.4 1.5 2.5.
- Table 9. Broad Money Growth (YoY percent change):
  - Middle East and Central Asia: 15.9 10.7 15.3 15.8 22.5 23.2.
  - Oil Exporters: 15.9 10.3 14.6 14.7 24.6 23.6.
  - Selected country figures:
    - Algeria: 12.6 -0.8 7.4 13.7 19.9 14.5.
    - Iran: 25.6 31.3 40.6 39.0 47.5 45.6.
    - Saudi Arabia: 10.1 7.1 8.3 7.4 8.5 7.6.
  - Notes: Broad money defined to include nonresident deposits (M5); includes currency, demand deposits, quasi money, and long-term deposits.

### Fiscal sector tables (Tables 10–12 and selected fiscal indicators)
- Table 10. Central Government Net Lending/Borrowing (Percent of GDP):
  - Middle East and Central Asia: 0.6 -3.6 -7.5 -3.7 -0.6 -1.5.
  - Oil Exporters: 2.5 -2.5 -7.6 -2.9 0.8 -0.3.
  - Selected country figures (Average / Projections):
    - Algeria: 0.0 -9.6 -12.0 -7.2 -12.3 -11.3.
    - Azerbaijan: 5.5 8.9 -6.7 4.1 17.1 20.5.
    - Saudi Arabia: 3.4 -4.4 -11.2 -2.3 5.5 3.9.
  - Memoranda:
    - Emerging Market and Middle-Income Countries: -6.2 -7.1 -7.5 -6.6 -6.7 -6.4.
    - GCC: 4.8 -2.0 -7.9 -1.5 5.2 4.5.
- Table 11. General Government Fiscal Balance (Percent of GDP):
  - Middle East and Central Asia: 1.6 -3.2 -7.8 -3.2 0.2 -0.8.
  - Oil Exporters: 3.5 -2.0 -8.2 -2.4 1.9 0.5.
  - Selected country figures:
    - Algeria (Central government): 0.0 -9.6 -12.0 -7.2 -12.3 -11.3.
    - Qatar: 9.6 4.9 1.3 4.4 12.5 16.0.
    - United Arab Emirates: 5.4 0.4 -5.2 2.1 7.7 4.9.
  - Memoranda:
    - Emerging Market and Middle-Income Countries: -5.4 -6.7 -7.3 -6.4 -6.4 -6.1.
    - GCC: 6.4 -1.7 -8.9 -0.6 7.3 6.0.
- Table 12. General Government Total Revenue, Excluding Grants (Percent of GDP):
  - Middle East and Central Asia: 29.7 25.3 21.2 21.2 23.4 23.1.
  - Oil Exporters: 32.9 28.0 22.4 22.2 24.7 24.2.
  - Selected country figures:
    - Algeria: 36.8 32.2 30.7 29.9 31.4 29.6.
    - Kuwait: 64.3 55.2 52.8 52.0 54.9 59.1.
    - United Arab Emirates: 31.2 30.7 27.9 31.0 37.3 34.9.
  - Memoranda:
    - MENA oil exporters: 33.6 28.6 22.8 22.4 24.8 24.3.
    - GCC: 38.4 33.4 31.2 32.8 36.3 35.8.

### Non-oil fiscal balances, revenue, and government debt (Section 3)
- General Government Non-Oil Fiscal Balance (Percent of non-oil GDP):
  - ME&CA Oil Exporters: -37.3 (2000–18 average), -28.2 (2019), -25.5 (2020), -22.5 (2021), -23.2 (2022), -22.3 (2023 projections).
  - Algeria (central government): -36.1, -28.1, -26.1, -24.3, -41.4, -35.2.
  - Iraq (central government): -74.2, -55.1, -60.2, -60.8, -68.1, -63.9.
  - Memoranda: GCC: -44.1, -35.5, -36.3, -31.9, -31.0, -29.4.
- General Government Non-Oil Revenue (Percent of non-oil GDP):
  - ME&CA Oil Exporters: 13.7 (2000–18), 15.8 (2019), 14.6 (2020), 13.9 (2021), 14.2 (2022), 13.9 (2023 projections).
  - Kuwait: 33.3, 31.3, 34.1, 36.6, 39.1, 39.1.
  - United Arab Emirates: 14.5, 18.7, 18.7, 20.0, 23.4, 22.1.
  - Memorandum: GCC: 14.1, 18.2, 19.1, 20.3, 20.9, 20.4.
- Total Government Gross Debt (Percent of GDP):
  - Middle East and Central Asia: 37.0 (2000–18), 45.9 (2019), 54.4 (2020), 50.4 (2021), 43.4 (2022), 41.2 (2023 projections).
  - Oil Exporters: 26.1, 34.0, 43.4, 40.0, 32.6, 31.7.
  - Selected countries:
    - Algeria: 24.2, 46.0, 52.3, 63.0, 62.7, 70.3.
    - Bahrain: 39.7, 101.6, 129.7, 128.5, 119.5, 121.7.
    - Egypt: 83.0, 80.1, 85.3, 89.2, 89.2, 85.6.
  - Memoranda:
    - MENA oil exporters: 26.9, 35.6, 45.5, 41.5, 33.6, 32.7.
    - GCC: 24.4, 30.4, 41.1, 36.4, 30.1, 29.7.
- Total Government Net Debt (Percent of GDP):
  - Middle East and Central Asia: 21.7 (2000–18), 34.8 (2019), 41.8 (2020), 42.3 (2021), 36.0 (2022), 33.0 (2023 projections).
  - Oil Exporters: 2.4, 15.4, 25.8, 28.6, 22.1, 20.4.
  - Selected country examples:
    - Algeria: -5.8, 30.5, 44.0, 51.9, 57.3, 64.9.
    - Saudi Arabia (central government): 3.5, 4.9, 15.9, 17.7, 9.1, 5.4.
    - Egypt (includes IMF obligations): 66.4, 74.6, 79.7, 84.5, 84.5, 80.9.

### External sector: exports, imports, current account, reserves
- Exports of Goods and Services (Billions USD):
  - Middle East and Central Asia: 1086.0 (2000–18), 1473.8 (2019), 1114.6 (2020), 1516.9 (2021), 2085.9 (2022), 2037.4 (2023 projections).
  - Oil Exporters: 913.3, 1236.4, 920.4, 1294.3, 1799.5, 1738.7.
  - Selected countries:
    - Saudi Arabia: 232.1, 285.9, 182.8, 286.5, 432.4, 405.5.
    - United Arab Emirates: 235.3, 404.0, 350.3, 425.1, 517.0, 523.8.
  - Memorandum: GCC: 655.0, 928.5, 711.9, 969.9, 1314.0, 1281.7.
- Imports of Goods and Services (Billions USD):
  - Middle East and Central Asia: 916.1 (2000–18), 1394.8 (2019), 1166.0 (2020), 1344.4 (2021), 1612.4 (2022), 1658.6 (2023 projections).
  - Oil Exporters: 668.0, 1018.3, 849.0, 974.0, 1158.0, 1198.4.
  - Selected countries:
    - United Arab Emirates: 192.1, 321.5, 273.7, 320.4, 387.3, 404.4.
    - Saudi Arabia: 152.1, 218.9, 182.2, 213.0, 237.4, 251.9.
  - Memorandum: GCC: 454.4, 720.8, 613.9, 710.2, 835.3, 874.4.
- Current Account Balance (Billions USD):
  - Middle East and Central Asia: 145.8 (2000–18), 17.3 (2019), -105.7 (2020), 121.8 (2021), 406.5 (2022), 333.0 (2023 projections).
  - Oil Exporters: 174.7, 77.6, -67.3, 171.0, 473.6, 391.5.
  - Selected countries:
    - Saudi Arabia: 60.6, 38.2, -22.8, 44.3, 161.5, 122.7.
    - United Arab Emirates: 27.1, 37.3, 21.1, 48.0, 74.2, 64.8.
  - Memorandum: GCC: 139.8, 92.1, -17.0, 138.2, 346.4, 285.1.
- Current Account Balance (Percent of GDP):
  - Middle East and Central Asia: 6.1 (2000–18), 0.4 (2019), -2.5 (2020), 2.3 (2021), 6.5 (2022), 5.2 (2023 projections).
  - Oil Exporters: 9.2, 2.5, -2.2, 4.3, 9.6, 7.8.
  - Memorandum: GCC: 13.3, 5.5, -1.2, 8.2, 16.7, 13.7.
- Gross Official Reserves (Billions USD):
  - Middle East and Central Asia: 892.1 (2000–18), 1140.6 (2019), 1078.3 (2020), 1119.0 (2021), 1314.7 (2022), 1496.1 (2023 projections).
  - Oil Exporters: 777.2, 961.2, 887.7, 929.5, 1147.0, 1309.0.
  - Selected countries:
    - Saudi Arabia (footnote 2): 369.8, 497.3, 451.4, 449.5, 532.3, 589.8.
    - United Arab Emirates (consolidated accounts): 47.5, 108.1, 106.5, 127.8, 161.0, 184.5.
    - Iran (footnote 1 applies): 73.5, 15.0, 13.8, 17.7, 30.8, 42.2.
  - Memoranda:
    - MENA: 837.0 1050.2 968.0 1012.3 1211.7 1384.6.
    - MENA oil exporters: 752.4 925.9 845.6 888.1 1104.1 1263.8.

### Gross international reserves — notes and selected figures (Section 4)
- Staff adjustment: "only 10 percent of the previously reported gross international reserves other than Iran’s SDR holdings and reserve position at the Fund were readily available for BOP purposes in 2019."
- Starting from 2020, gross international reserves assumed to accumulate or decumulate with estimated BOP surpluses or deficits, and from 2021 with new SDR allocation approved in August 2021.
- Example: "in 2021, total gross reserves are estimated at about $122 bn, while total usable resreves are estimated at $17.7 bn."
- Selected country/regional series (sequence of values as presented):
  - Sudan: 1.3 3.0 1.6 2.3 2.2 2.3.
  - Tajikistan: 0.4 1.5 2.2 2.5 3.0 3.4.
  - Uzbekistan: 13.2 29.2 34.9 35.1 37.7 38.0.
  - Yemen: 4.3 1.4 0.9 1.7 1.1 0.7.
  - CCA: 42.8 74.5 88.3 89.4 93.2 95.4.
  - MENA: 837.0 1050.2 968.0 1012.3 1211.7 1384.6.
  - MENA oil exporters: 752.4 925.9 845.6 888.1 1104.1 1263.8.
  - MENA oil importers: 84.5 124.4 122.4 124.2 107.6 120.8.

### External debt and reserves adequacy
- Table 22. Total Gross External Debt (Percent of GDP):
  - Middle East and Central Asia: 33.0 (Average 2000–18), 46.5 (2019), 51.2 (2020), 41.6 (2021), 35.8 (2022), 34.8 (2023).
  - Oil Exporters: 30.1, 41.4, 46.7, 37.2, 30.9, 30.8.
  - Emerging Market and Middle-Income Countries: 40.3, 57.6, 58.1, 51.9, 45.0, 45.2.
  - Low-Income Developing Countries: 49.6, 74.0, 90.3, 81.8, 82.2, 70.7.
  - Selected countries (2000–18 average; 2019; 2020; 2021; 2022; 2023):
    - Bahrain: 123.7 204.9 231.7 226.8 207.3 207.9.
    - Lebanon: 176.1 348.9 627.1 .........
    - Pakistan: 25.9 39.0 39.9 34.5 38.8 40.4.
    - Sudan: 101.0 198.9 246.8 178.8 189.4 155.1.
  - Memorandum groups:
    - Arab World: 36.7 55.7 69.3 62.0 53.2 51.9.
    - GCC: 31.8 58.6 77.2 70.7 59.8 61.1.
    - Fragile states and conflict-affected countries: 90.4 85.1 113.7 91.5 60.5 45.6.
  - Notes: "Total Gross external debt is converted to local currency using end of period exchange rate, after which it is divided by nominal GDP." Various country footnotes on coverage (publicly guaranteed debt, intercompany loans, nonresident deposits, etc.).
- Table 23. Gross Official Reserves (In months of next year's imports):
  - Middle East and Central Asia: 9.5 (Average 2000–18), 11.1 (2019), 9.0 (2020), 7.9 (2021), 9.1 (2022), 9.8 (2023).
  - Oil Exporters: 10.8, 12.6, 10.2, 9.0, 10.8, 11.8.
  - Emerging Market and Middle-Income Countries: 5.4, 6.4, 5.5, 4.6, 4.0, 4.4.
  - Selected countries (2000–18; 2019; 2020; 2021; 2022; 2023):
    - Algeria: 25.9 17.2 12.7 11.4 13.3 13.4.
    - Saudi Arabia: 24.0 32.8 25.4 22.7 25.4 26.1 (note: Saudi Arabia Monetary Agency gross foreign assets).
    - Uzbekistan: 11.0 15.5 15.1 11.9 11.1 9.7.
    - Yemen: 6.5 2.0 1.2 1.6 1.1 0.7.
  - Memoranda:
    - Arab World: 10.1 12.3 9.9 8.6 10.1 10.9.
    - GCC: 10.4 13.8 11.2 9.9 11.6 12.4.
    - Fragile states and conflict-affected countries: 7.1 10.4 7.3 6.2 8.7 10.3.
  - Notes reiterate staff adjustment for Iran's reserves and exclusions (gold, encumbered assets, reserve assets in non-convertible currencies).

### Banking sector indicators (selected time series)
- Table 24. Capital Adequacy Ratios (Percent of risk-weighted assets) — selected series (Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22):
  - Bahrain (retail banks): 0.5 0.7 0.8 0.3 0.6 0.8 1.1 0.3 0.6.
  - Kuwait: 0.9 0.8 0.6 0.6 0.8 0.9 1.1 1.2 1.2.
  - Qatar: 1.4 1.4 1.4 1.5 1.4 1.5 1.4 1.5 1.5.
  - United Arab Emirates (national banks): 0.8 0.8 0.7 0.9 1.0 1.1 1.2 1.3 1.4.
  - Pakistan: 1.9 1.9 1.8 1.5 1.6 1.6 1.6 1.8 ...
  - Notes: Footnotes identify bank coverage differences (retail banks, national banks only, after tax, cumulative and annualized).
- Table 25. Return on Assets (Percent; before taxes) — selected series (Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22):
  - Bahrain (retail banks): 4.5 4.6 4.2 4.0 3.8 3.6 3.2 3.5 3.3.
  - Iran: 10.1 7.8 7.4 6.2 6.1 5.7 5.4 4.8 ...
  - Iraq: 18.7 19.1 21.0 19.6 17.8 18.1 18.5 ...... 
  - United Arab Emirates (national banks): 7.0 7.2 7.6 7.6 7.6 7.5 7.3 7.1 6.9.
  - Pakistan: 9.7 9.9 9.2 9.3 8.9 8.8 7.9 7.9 ...
  - Tajikistan (overdue by 30 days or more): 31.0 28.5 23.8 23.1 15.5 14.9 13.7 14.2 13.4.
  - Notes: Footnotes indicate definitions and data referents (retail banks, national banks only, loans overdue definitions, end of fiscal year).
- Table 26. Nonperforming Loans (Percent of total gross loans; 90-day basis):
  - Table header present; numeric series not printed in the supplied excerpt.

*Source: IMF staff estimates, projections, and national authorities as presented in the October 2022 Regional Economic Outlook — Statistical Appendix.*

### Section 1

### Statistical Appendix — Section 1

### Scope and coverage
- The IMF’s Middle East and Central Asia (ME&CA) countries and territories comprise Afghanistan, Algeria, Armenia, Azerbaijan, Bahrain, Djibouti, Egypt, Georgia, the Islamic Republic of Iran, Iraq, Jordan, Kazakhstan, Kuwait, the Kyrgyz Republic, Lebanon, Libya, Mauritania, Morocco, Oman, Pakistan, Qatar, Saudi Arabia, Somalia, Sudan, the Syrian Arab Republic, Tajikistan, Tunisia, Turkmenistan, the United Arab Emirates, Uzbekistan, the West Bank and Gaza, and Yemen.
- The statistical appendix tables contain data for 32 ME&CA countries and territories.
- Data revisions reflect changes in methodology and/or revisions provided by country authorities.
- The 2022 and 2023 data in the tables are projections based on statistical information available through late September 2022, unless otherwise noted.
- Calendar-year reference except where fiscal-year definitions are specified (see "Temporal conventions" below).

### Assumptions underlying October 2022 REO projections
- Established policies of national authorities are assumed to be maintained.
- Oil price assumptions:
  - US$98.18 a barrel in 2022.
  - US$85.52 a barrel in 2023.
  - Footnote: Simple average of prices of U.K. Brent, Dubai Fateh, and West Texas Intermediate crude oil.
- Six-month LIBOR on US dollar deposits assumed to average:
  - 2.5 percent in 2022.
  - 4.8 percent in 2023.
- Projections are described as working hypotheses rather than forecasts; uncertainties add to the margin of error.

### Data omissions and special cases
- Afghanistan: data and projections for 2021−23 are omitted because of an unusually high degree of uncertainty and because the IMF has paused engagement with the country.
- Lebanon: all projections for 2021−23 are omitted due to an unusually high degree of uncertainty.
- Pakistan: FY2022/23 projections are based on information available as of end-August 2022 and do not include the impact of the recent floods.
- Syrian Arab Republic: all data are omitted and excluded from aggregates from 2011 onward due to the uncertain political situation.
- Iran, Qatar, and Turkmenistan: national-account base-year and estimation notes appear in table footnotes (see tables).

### Temporal conventions
- All data refer to calendar years, except:
  - Afghanistan (March 21 to March 20 until 2011, and December 21 to December 20 thereafter).
  - Islamic Republic of Iran (March 21 to March 20).
  - Egypt and Pakistan (July to June) — except inflation.
- Tables 7 and 8: data correspond to the calendar year for all aggregates and countries, except for the Islamic Republic of Iran, which uses the Iranian calendar year (beginning on March 21).

### Fiscal and sectoral definition updates
- Definitions for general government overall fiscal balance and non-oil fiscal balance in Tables 11 and 13 have been updated in line with GFSM 2001 and are calculated as general government net lending/borrowing excluding net acquisition of financial assets: policy lending.
- For Algeria, starting with the October 2022 REO, total government expenditure and net lending/borrowing include policy lending by the government (reflecting support to the pension system and other public sector entities).
- In Tables 3, 6, 13, and 14, “oil” includes gas.

### Aggregation methodologies
- Arithmetically weighted averages used for all data aggregates except consumer price index, for which geometric averages are used.
- Long-term averages calculated if data are available for the last ten consecutive years within the period 2000–18.
- REO aggregates constructed with varied weights:
  - Domestic economy composites (growth rates or ratios; Tables 1, 3, 7–8): weighted by GDP at purchasing power parities (PPPs) as a share of total ME&CA or group GDP.
  - Broad money growth (Table 9): weighted by GDP converted to US dollars at market exchange rates (GDP and exchange rates averaged over preceding three years).
  - Fiscal aggregates (Tables 10–16): sums of individual country data after conversion to US dollars at average market exchange rates in the years indicated; 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 US dollars as a share of ME&CA or group GDP in US dollars.
  - Composites in Tables 2, 4, and 5: sums of individual country data.

### Publication conventions
- 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.

### Country groupings and acronyms
- ME&CA divided into three nonoverlapping groups:
  - Oil Exporters (OE)
  - Emerging Market and Middle-Income Countries (EM&MI)
  - Low-Income Developing Countries (LIC)
- Additional analytical/regional groups and acronyms listed for use in tables and figures (selection):
  - ME&CA OE: Algeria (ALG), Azerbaijan (AZE), Bahrain (BHR), the Islamic Republic of Iran (IRN), Iraq (IRQ), Kazakhstan (KAZ), Kuwait (KWT), Libya (LBY), Oman (OMN), Qatar (QAT), Saudi Arabia (SAU), Turkmenistan (TKM), United Arab Emirates (UAE).
  - ME&CA EM&MI: Armenia (ARM), Egypt (EGY), Georgia (GEO), Jordan (JOR), Lebanon (LBN), Morocco (MAR), Pakistan (PAK), Syrian Arab Republic (SYR), Tunisia (TUN), West Bank and Gaza (WBG).
  - ME&CA LIC: Afghanistan (AFG), Djibouti (DJI), Kyrgyz Republic (KGZ), Mauritania (MRT), Somalia (SOM), Sudan (SDN), Tajikistan (TJK), Uzbekistan (UZB), Yemen (YEM).
  - Caucasus and Central Asia (CCA): Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, Uzbekistan.
  - GCC: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates.
  - MENAP: MENA, Afghanistan, and Pakistan.
  - Fragile states and conflict-affected countries (FCS): Afghanistan, Djibouti, Iraq, Lebanon, Libya, Somalia, Sudan, Syrian Arab Republic, Tajikistan, West Bank and Gaza, Yemen.
  - Conflict-affected countries: Libya, Somalia, Syrian Arab Republic, Yemen.
- Full lists and grouping breakdowns are provided in the source tables and group descriptions.

### Key statistics from Table 1 — Real GDP Growth (year-over-year percent change)
- Middle East and Central Asia: Average 2000–18 = 4.61; 2019 = 1.7; 2020 = -2.7; 2021 = 4.5; 2022 (projection) = 5.0; 2023 (projection) = 3.6.
- Oil Exporters: Average 2000–18 = 4.6; 2019 = 0.5; 2020 = -3.8; 2021 = 4.5; 2022 = 4.9; 2023 = 3.5.
- Emerging Market and Middle-Income Countries: Average 2000–18 = 4.4; 2019 = 3.7; 2020 = -0.9; 2021 = 4.5; 2022 = 5.4; 2023 = 3.7.
- Low-Income Developing Countries: Average 2000–18 = 4.4; 2019 = 2.9; 2020 = -1.4; 2021 = 4.3; 2022 = 3.2; 2023 = 3.8.
- Selected country values (2000–18 average; 2019; 2020; 2021; 2022; 2023):
  - Algeria: 3.4; 1.0; -5.1; 3.5; 4.7; 2.6.
  - Egypt: 4.6; 5.5; 3.5; 3.3; 6.6; 4.4.
  - Saudi Arabia: 3.7; 0.3; -4.1; 3.2; 7.6; 3.7.
  - Libya: 4.0; -11.2; -29.5; 28.3; -18.5; 17.9.
  - Lebanon: 3.5; -6.9; -25.9; . . . . . . . . (projections omitted).
- Regional memoranda (selected):
  - CCA: 6.9; 4.1; -2.1; 5.6; 3.8; 4.0.
  - MENA: 4.4; 1.0; -3.1; 4.1; 5.0; 3.6.
  - GCC: 4.3; 1.0; -4.5; 3.1; 6.5; 3.6.
  - Fragile states and conflict-affected countries: 6.1; 0.5; -13.0; 7.4; 2.6; 5.3.

### Key statistics from Table 2 — Nominal GDP (Billions of U.S. dollars)
- Middle East and Central Asia total (Billions USD): Average 2000–18 = 2,667.0; 2019 = 4,191.4; 2020 = 1,147.7; 2021 = 2,244.8; 2022 (proj) = 2,766.6; 2023 (proj) = 4,406.5.
- Oil Exporters total (Billions USD): Average 2000–18 = 1,940.3; 2019 = 3,069.0; 2020 = 3,020.7; 2021 = 4,005.7; 2022 = 4,925.4; 2023 = 5,026.9.
- Emerging Market and Middle-Income Countries total (Billions USD): Average 2000–18 = 599.5; 2019 = 953.3; 2020 = 959.1; 2021 = 1,076.6; 2022 = 1,159.8; 2023 = 1,170.2.
- Low-Income Developing Countries total (Billions USD): Average 2000–18 = 127.2; 2019 = 169.0; 2020 = 167.9; 2021 = 162.4; 2022 = 191.4; 2023 = 209.4.
- Selected country nominal GDP (Billions USD):
  - Saudi Arabia: 492.1; 803.6; 703.4; 833.5; 1,010.6; 996.4.
  - Iran: 380.5; 651.5; 971.2; 1,589.9; 1,973.7; 2,044.2.
  - Egypt: 196.3; 317.9; 382.5; 423.1; 469.1; 471.4.
  - United Arab Emirates: 271.1; 417.2; 358.9; 419.8; 503.9; 519.0.
  - Pakistan: 249.8; 321.1; 300.4; 348.2; . . . . . (2022/23 projections noted separately).
- Regional memoranda (selected):
  - CCA total (Billions USD): 254.9; 391.0; 371.3; 433.0; 510.6; 556.7.
  - MENA total (Billions USD): 2,229.1; 3,460.5; 3,455.8; 4,463.5; 5,389.6; 5,482.7.
  - GCC total (Billions USD): 1,058.6; 1,660.1; 1,421.3; 1,693.5; 2,072.0; 2,077.9.

### Key statistics from Table 3 — Oil Exporters: Real Oil and Non-Oil GDP Growth (year-over-year percent change)
- REAL NON-OIL GDP GROWTH (Oil exporters):
  - Average 2000–18 = 5.7; 2019 = 2.4; 2020 = -3.4; 2021 = 5.5; 2022 = 3.6; 2023 = 3.4.
- REAL OIL GDP GROWTH (Oil exporters):
  - Average 2000–18 = 3.2; 2019 = -8.2; 2020 = -4.0; 2021 = 4.6; 2022 = 6.9; 2023 = 3.7.
- Selected country values (non-oil / oil real growth; percent):
  - Algeria non-oil: 4.8; 2.2; -4.1; 2.3; 4.1; 3.1. Algeria oil: -0.4; -4.9; -10.2; 10.3; 7.5; 0.0.
  - Iraq non-oil: 10.1; 9.0; -20.2; 21.1; 4.4; 3.8. Iraq oil: 10.7; 3.8; -12.6; -0.7; 13.0; 4.1.
  - Libya non-oil: 4.0; -11.6; -19.4; 5.8; -5.8; 11.5. Libya oil: 8.8; -10.9; -35.5; 45.0; -25.4; 22.2.
- Regional memoranda (selected):
  - CCA oil and gas exporters (non-oil): 7.2; 3.9; -2.1; 5.3; 3.5; 3.2.
  - MENA oil exporters (oil): 2.9; -9.6; -3.7; 4.8; 7.9; 3.3.

### Key statistics from Table 4 — Crude Oil and Natural Gas Production (Millions of barrels per day)
- CRUDE OIL PRODUCTION (Oil exporters total, Millions b/d):
  - Average 2000–18 = 26.82; 2019 = 29.01; 2020 = 26.03; 2021 = 27.19; 2022 (proj) = 29.81; 2023 (proj) = 31.07.
- Selected country crude oil production (Millions b/d):
  - Algeria: 1.13; 1.03; 0.95; 0.92; 0.98; 0.98.
  - Iran: 3.55; 2.19; 2.02; 2.48; 2.58; 2.62.
  - Iraq: 2.72; 4.58; 4.00; 3.97; 4.49; 4.67.
  - Saudi Arabia: 9.09; 9.81; 9.22; 9.10; 10.62; 11.02.
  - United Arab Emirates: 2.54; 3.06; 2.77; 2.74; 3.08; 3.25.
- NATURAL GAS PRODUCTION (Oil exporters total, arbitrary units as listed):
  - Average 2000–18 = 10.69; 2019 = 17.21; 2020 = 17.12; 2021 = 18.35; 2022 = 18.91; 2023 = 19.48.
- Selected country natural gas production:
  - Iran: 2.37; 4.12; 4.24; 4.33; 4.46; 4.60.
  - Qatar: 2.46; 4.52; 4.56; 4.56; 4.70; 4.82.
  - United Arab Emirates: 0.89; 1.13; 1.16; 1.19; 1.20; 1.21.
- Memoranda:
  - MENA oil exporters crude: 24.59; 26.19; 23.39; 24.56; 27.19; 28.30 (Millions b/d).
  - GCC crude: 15.93; 17.29; 16.12; 15.98; 18.24; 18.93 (Millions b/d).
  - MENA oil exporters natural gas: 9.79; 15.37; 15.34; 16.12; 16.71; 17.16.

*Source: IMF staff estimates, projections, and national authorities as presented in the October 2022 Regional Economic Outlook — Statistical Appendix.*

### Section 2

### statisticalappendix - Section 2

### Crude Oil and Natural Gas Exports (Millions of barrels per day)
- CRUDE OIL EXPORTS (Average / Projections)
  - ME&CA Oil Exporters: 19.67 21.06 18.81 19.46 22.11 23.19
  - Algeria: 0.67 0.48 0.36 0.37 0.38 0.38
  - Azerbaijan: 0.57 0.63 0.56 0.56 0.56 0.56
  - Bahrain: 0.16 0.15 0.15 0.15 0.15 0.15
  - Iran: 1.87 0.53 0.40 0.75 0.85 0.89
  - Iraq: ... 3.97 3.43 3.44 3.88 4.04
  - Kazakhstan: 1.19 1.44 1.45 1.35 1.39 1.52
  - Kuwait: 1.68 1.99 1.83 1.81 2.11 2.16
  - Libya: 0.99 0.90 0.24 0.98 0.73 0.90
  - Oman: 0.77 0.85 0.78 0.78 0.94 0.96
  - Qatar: 0.65 0.55 0.47 0.48 0.50 0.51
  - Saudi Arabia: 6.89 7.04 6.63 6.42 7.89 8.24
  - Turkmenistan: ... 0.08 0.07 0.07 0.07 0.06
  - United Arab Emirates: 2.30 2.47 2.43 2.31 2.66 2.80
  - CCA oil and gas exporters: 1.80 2.15 2.09 1.98 2.01 2.14
  - MENA oil exporters: 17.87 18.92 16.72 17.48 20.10 21.05
- Memorandum
  - GCC: 12.45 13.04 12.29 11.94 14.25 14.83
  - MENA oil exporters excl. conflict-affected countries and Iran: 15.01 17.49 16.08 15.75 18.51 19.26

- NATURAL GAS EXPORTS (Average / Projections)
  - ME&CA Oil Exporters: 4.11 5.92 5.62 6.32 6.41 6.43
  - Algeria: 1.20 1.02 0.92 1.19 1.27 1.15
  - Azerbaijan: ... 0.26 0.28 0.43 0.45 0.49
  - Bahrain: 0.00 0.00 0.00 0.00 0.00 0.00
  - Iran: 0.12 0.30 0.31 0.32 0.32 0.33
  - Iraq: ... 0.00 0.00 0.00 0.00 0.00
  - Kazakhstan: 0.00 0.00 0.00 0.00 0.00 0.00
  - Kuwait: 0.13 0.19 0.17 0.18 0.19 0.19
  - Libya: 0.07 0.08 0.02 0.09 0.06 0.08
  - Oman: 0.19 0.29 0.25 0.25 0.27 0.26
  - Qatar: 1.55 2.63 2.62 2.61 2.62 2.63
  - Saudi Arabia: 0.00 0.00 0.00 0.00 0.00 0.00
  - Turkmenistan: ... 0.65 0.59 0.79 0.73 0.78
  - United Arab Emirates: 0.43 0.50 0.47 0.46 0.50 0.53
  - CCA oil and gas exporters: ... 0.91 0.86 1.23 1.17 1.27
  - MENA oil exporters: 3.70 5.01 4.76 5.09 5.24 5.16
- Memorandum
  - GCC: 2.31 3.61 3.51 3.50 3.58 3.61
  - MENA oil exporters excl. conflict-affected countries and Iran: 3.51 4.63 4.42 4.69 4.85 4.75

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

### Table 6. Breakeven Oil Prices (U.S. dollars per barrel)
- FISCAL BREAKEVEN OIL PRICE (The oil price at which the fiscal balance is zero.)
  - MENAP oil exporters
    - Algeria: ... 106.38 89.71 111.71 169.21 149.2
    - Azerbaijan: 52.24 42.86 66.55 8.14 6.73 5.7
    - Bahrain: 81.89 8.91 120.71 131.91 127.6 124.1
    - Iran: 80.91 66.65 48.12 63.62 91.53 72.6
    - Iraq: ... 52.35 50.25 54.26 0.76 0.6
    - Kazakhstan: ... 68.21 57.11 53.91 35.81 118.2
    - Kuwait: ... 57.68 0.16 7.75 6.75 7.8
    - Libya: 73.13 36.01 141.75 22.76 9.75 4.1
    - Oman: ... 64.78 64.47 6.77 0.97 5.1
    - Qatar: 44.85 0.55 0.50 0.54 9.04 8.14 9.9 (note: preserve original spacing and ordering)
    - Saudi Arabia: ... 81.87 76.38 4.67 3.36 6.8
    - Turkmenistan: ... 37.64 0.53 2.63 7.33 7.0
    - United Arab Emirates: 49.86 2.56 1.46 1.36 3.96 5.8
- EXTERNAL BREAKEVEN OIL PRICE (The oil price at which the current account balance is zero.)
  - MENAP oil exporters
    - Algeria: ... 97.68 0.27 79.47 9.78 8.3
    - Azerbaijan: 56.27 9.79 164.86 9.51 23.6 144.0
    - Bahrain: 51.17 1.98 4.83 4.75 2.25 7.9
    - Iran: 39.74 9.73 6.84 4.74 1.93 37.8
    - Iraq: ... 59.35 53.75 62.70 0.76 1.0
    - Kazakhstan: ... 101.97 5.71 107.44 8.25 2.2
    - Kuwait: ... 46.03 8.14 2.74 5.04 5.4
    - Libya: 54.24 7.35 8.04 6.46 8.65 51.3
    - Oman: 48.76 5.67 2.57 4.17 6.57 0.6
    - Qatar: ... 56.64 3.54 3.55 3.04 5.3
    - Saudi Arabia: ... 53.35 0.85 7.85 2.04 9.6
    - Turkmenistan: ... 31.33 1.92 8.92 7.72 4.7
    - United Arab Emirates: ... 24.31 8.51 6.18 2.62 7.3

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

### Table 7. Consumer Price Inflation (Year-over-year percent change)
- Middle East and Central Asia: 7.4 7.7 10.5 12.9 13.8 13.1
- Oil Exporters: 6.9 6.1 8.7 11.1 12.6 11.4
- Selected country figures (Average / Projections)
  - Algeria: 4.0 2.0 2.4 7.2 9.7 8.7
  - Azerbaijan: 6.4 2.7 2.8 6.7 12.2 10.7
  - Bahrain: 1.8 1.0 -2.3 -0.6 3.5 3.4
  - Iran: 17.3 34.6 36.4 0.1 40.0 40.0
  - Iraq: 10.2 -0.2 0.6 6.0 6.5 4.5
  - Kazakhstan: 8.4 5.2 6.8 8.0 14.0 11.3
  - Kuwait: 3.0 1.1 2.1 3.4 4.3 2.4
  - Libya: 8.6 -2.9 1.5 2.8 5.5 4.0
  - Oman: 2.2 0.1 -0.9 1.5 3.1 1.9
  - Qatar: 3.7 -0.7 -2.7 2.3 4.5 3.3
  - Saudi Arabia: 2.0 -2.1 3.4 3.1 2.7 2.2
  - Turkmenistan: ... 5.1 7.6 14.9 17.5 10.5
  - United Arab Emirates: 3.8 -1.9 -2.1 0.2 5.2 3.6
- Regional and subgroup figures
  - Emerging Market and Middle-Income Countries: 7.3 8.3 8.2 7.8 11.2 13.9
  - Low-Income Developing Countries: 13.6 19.5 39.3 69.5 42.6 25.9
  - CCA: 9.0 6.6 7.5 9.2 12.9 10.5
  - MENA: 7.3 8.1 10.9 14.2 14.2 12.4
  - MENA oil exporters: 6.9 6.3 9.1 11.4 12.4 11.4
  - Memorandum: Arab World 4.9 3.5 6.2 9.3 9.4 7.4; GCC 2.5 -1.5 1.2 2.2 3.6 2.6

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

### Table 8. Core Consumer Price Inflation (Year-over-year percent change)
- Middle East and Central Asia: 9.0 8.8 10.9 13.7 13.3 13.4
- Oil Exporters: 8.2 9.0 11.9 14.5 14.0 13.5
- Selected country figures (Average / Projections)
  - Algeria: 3.8 3.2 3.3 6.0 8.1 8.1
  - Iran: 21.23 32.83 36.74 0.34 40.6 39.1
  - Iraq: 8.6 -0.1 1.0 6.4 6.5 4.5
  - Kazakhstan: 8.1 7.4 7.4 8.0 13.9 11.3
  - Qatar: ... -0.6 -3.9 1.0 3.6 3.6
  - Saudi Arabia: 0.5 -0.4 3.5 4.9 1.2 2.4
- Regional and subgroup figures
  - Emerging Market and Middle-Income Countries: 5.9 6.8 4.5 4.5 7.6 10.8
  - CCA: ... 6.2 6.5 7.5 12.9 10.7
  - MENA: 9.3 9.3 12.0 15.9 14.3 13.7
  - MENA oil exporters: 8.2 9.2 12.4 15.3 14.0 13.8
  - Memorandum: Arab World 5.0 4.2 6.1 10.0 8.1 7.9; GCC 0.5 -0.4 2.5 4.4 1.5 2.5

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

### Table 9. Broad Money Growth (Year-over-year percent change)
- Middle East and Central Asia: 15.9 10.7 15.3 15.8 22.5 23.2
- Oil Exporters: 15.9 10.3 14.6 14.7 24.6 23.6
- Selected country figures (Average / Projections)
  - Algeria: 12.6 -0.8 7.4 13.7 19.9 14.5
  - Azerbaijan: 25.8 19.9 1.1 18.7 14.6 13.4
  - Bahrain: 9.8 11.1 6.5 4.9 12.7 8.7
  - Iran: 25.6 31.3 40.6 39.0 47.5 45.6
  - Iraq: 15.4 8.4 16.0 16.7 26.0 23.1
  - Kazakhstan: 27.1 2.4 16.9 14.2 23.9 16.7
  - Kuwait: 8.9 -1.2 3.8 -0.8 6.0 5.5
  - Libya: 14.0 -2.4 16.0 -20.3 2.0 3.0
  - Oman: 11.7 2.0 8.9 4.6 6.8 1.8
  - Qatar: 18.0 2.5 3.8 1.4 16.9 7.4
  - Saudi Arabia: 10.1 7.1 8.3 7.4 8.5 7.6
  - Turkmenistan: ... 12.9 11.8 -1.4 19.9 12.7
  - United Arab Emirates: 14.4 8.0 4.6 5.8 15.3 8.1
- Regional and subgroup figures
  - Emerging Market and Middle-Income Countries: 13.0 9.2 14.1 13.5 14.9 21.7
  - Low-Income Developing Countries: 28.9 24.5 37.5 61.0 23.3 25.7
  - CCA: 28.2 9.4 14.7 14.9 21.0 15.3
  - MENA: 15.0 10.8 15.2 15.8 23.4 24.9
  - MENA oil exporters: 15.3 10.6 14.8 15.0 24.9 24.3
  - Memorandum: Arab World 12.6 6.9 10.0 9.6 13.8 14.1; GCC 11.8 6.0 6.5 5.5 10.9 7.3

Notes:
- Broad money is defined to include nonresident deposits (M5).
- Broad money includes currency, demand deposits, quasi money, and long-term deposits.

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

### Table 10. Central Government Net Lending/Borrowing (Percent of GDP)
- Middle East and Central Asia: 0.6 -3.6 -7.5 -3.7 -0.6 -1.5
- Oil Exporters: 2.5 -2.5 -7.6 -2.9 0.8 -0.3
- Selected country figures (Average / Projections)
  - Algeria: 0.0 -9.6 -12.0 -7.2 -12.3 -11.3
  - Azerbaijan: 5.5 8.9 -6.7 4.1 17.1 20.5
  - Bahrain: -4.5 -9.0 -17.9 -11.1 -4.7 -6.0
  - Iran: -1.8 -4.5 -5.8 -4.3 -4.2 -6.0
  - Iraq: -3.6 0.8 -12.8 -0.8 11.1 9.2
  - Kazakhstan: 1.9 -0.6 -7.1 -5.0 -2.1 -1.9
  - Kuwait: 23.2 2.9 -12.9 -0.4 14.1 14.1
  - Oman: 2.8 -4.8 -16.1 -3.2 5.5 2.3
  - Qatar: 7.9 1.0 -2.1 0.3 9.1 12.3
  - Saudi Arabia: 3.4 -4.4 -11.2 -2.3 5.5 3.9
  - United Arab Emirates: 0.1 1.1 0.3 0.4 0.3 0.3
- Regional and subgroup figures
  - Emerging Market and Middle-Income Countries: -6.2 -7.1 -7.5 -6.6 -6.7 -6.4
  - Low-Income Developing Countries: -2.8 -5.3 -3.8 .........
  - CCA: 2.3 1.2 -6.8 -3.1 2.1 2.6
  - MENA: 0.8 -3.6 -7.6 -3.5 -0.2 -1.5
  - Memorandum: Arab World 1.4 -3.3 -8.3 -3.0 2.1 1.3; GCC 4.8 -2.0 -7.9 -1.5 5.2 4.5

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

### Table 11. General Government Fiscal Balance (Percent of GDP)
- Middle East and Central Asia: 1.6 -3.2 -7.8 -3.2 0.2 -0.8
- Oil Exporters: 3.5 -2.0 -8.2 -2.4 1.9 0.5
- Selected country figures (Average / Projections)
  - Algeria (Central government): 0.0 -9.6 -12.0 -7.2 -12.3 -11.3
  - Azerbaijan (General government includes state budget, Nakhchevan AR, SOFAZ, and State Social Protection Fund): 5.5 8.9 -6.7 4.1 17.1 20.5
  - Bahrain (Central government): -4.5 -9.0 -17.9 -11.1 -4.7 -6.0
  - Iran (Central government): -1.8 -4.5 -5.8 -4.3 -4.2 -6.0
  - Iraq (Central government): -3.6 0.8 -12.8 -0.8 11.1 9.2
  - Kazakhstan: ... -0.6 -7.0 -5.0 -2.0 -1.9
  - Kuwait (Central government): 23.2 2.9 -12.9 -0.4 14.1 14.1
  - Libya: 2.9 11.9 -22.3 11.3 15.8 22.1
  - Oman (Central government): 2.8 -4.8 -16.1 -3.2 5.5 2.3
  - Qatar: 9.6 4.9 1.3 4.4 12.5 16.0
  - Saudi Arabia (Central government): 3.4 -4.4 -11.2 -2.3 5.5 3.9
  - United Arab Emirates (Consolidated accounts of the federal government and the emirates, including extra-budgetary funds): 5.4 0.4 -5.2 2.1 7.7 4.9
- Regional and subgroup figures
  - Emerging Market and Middle-Income Countries: -5.4 -6.7 -7.3 -6.4 -6.4 -6.1
  - Low-Income Developing Countries: -1.9 -4.4 -3.8 -3.0 -3.1 -2.7
  - CCA: ... 0.1 -5.4 -3.1 0.6 1.0
  - MENA: 1.8 -3.1 -8.2 -3.0 0.7 -0.7
  - Memorandum: Arab World 2.6 -2.8 -9.1 -2.3 3.5 2.5; GCC 6.4 -1.7 -8.9 -0.6 7.3 6.0

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

### Table 12. General Government Total Revenue, Excluding Grants (Percent of GDP)
- Middle East and Central Asia: 29.7 25.3 21.2 21.2 23.4 23.1
- Oil Exporters: 32.9 28.0 22.4 22.2 24.7 24.2
- Selected country figures (Average / Projections)
  - Algeria (Central government): 36.8 32.2 30.7 29.9 31.4 29.6
  - Azerbaijan (General government includes state budget, Nakhchevan AR, SOFAZ, and State Social Protection Fund): 35.1 41.5 33.7 36.5 46.8 51.8
  - Bahrain (Central government): 23.9 20.1 14.7 18.0 22.0 20.2
  - Iran (Central government): 15.4 9.7 7.2 8.1 8.3 8.3
  - Iraq (Central government): 42.7 35.9 31.3 35.2 44.2 45.0
  - Kazakhstan: 24.0 19.7 17.5 17.1 20.5 19.7
  - Kuwait (Central government and Social Security Fund): 64.3 55.2 52.8 52.0 54.9 59.1
  - Libya: 46.2 59.2 35.1 60.0 68.2 70.9
  - Oman (Central government): 37.7 33.8 29.3 33.8 36.0 33.0
  - Qatar: 40.8 37.4 36.0 33.8 40.2 43.0
  - Saudi Arabia (Central government): 37.0 30.8 29.6 30.9 32.3 31.6
  - United Arab Emirates (Consolidated accounts of the federal government and the emirates, including extra-budgetary funds): 31.2 30.7 27.9 31.0 37.3 34.9
- Regional and subgroup figures
  - Emerging Market and Middle-Income Countries: 20.4 17.8 18.2 18.0 18.4 18.6
  - Low-Income Developing Countries: 22.6 17.7 16.1 18.4 20.0 19.7
  - CCA: 25.4 23.1 20.7 21.1 24.8 24.5
  - MENA: 31.3 26.9 22.0 21.9 24.0 23.6
  - MENA oil exporters: 33.6 28.6 22.8 22.4 24.8 24.3
  - Memorandum: Arab World 34.8 30.9 27.8 29.6 33.1 32.7; GCC 38.4 33.4 31.2 32.8 36.3 35.8

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

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

### Section 3

### statisticalappendix - Section 3

### General Government Non-Oil Fiscal Balance (Percent of non-oil GDP)
- ME&CA Oil Exporters: -37.3 (2000–18 average), -28.2 (2019), -25.5 (2020), -22.5 (2021), -23.2 (2022), -22.3 (2023 projections)
- Algeria (central government): -36.1, -28.1, -26.1, -24.3, -41.4, -35.2
- Azerbaijan (general government includes state budget, Nakhchevan AR, SOFAZ, and State Social Protection Fund): -28.8, -27.7, -32.3, -24.9, -24.4, -21.8
- Bahrain (central government): -29.7, -27.3, -30.7, -27.5, -24.5, -22.8
- Iran (central government including Targeted Subsidy Organization): -11.1, -6.6, -6.4, -6.1, -6.2, -7.8
- Iraq (central government): -74.2, -55.1, -60.2, -60.8, -68.1, -63.9
- Kuwait (central government and Social Security Fund): -9.5, -12.8, -12.8, -10.6, -10.0 (note: table alignment indicates Kuwait series partly and footnote 4)
- Libya: -90.2, -34.3, -33.3, -146.6, -155.6, -145.1
- Oman (central government): -51.2, -46.6, -54.7, -46.9, -45.3, -43.9
- Qatar: -74.6, -33.6, -33.8, -30.8, -34.4, -31.9
- Saudi Arabia (central government): -49.2, -37.0, -37.1, -31.8, -28.5, -26.7
- Turkmenistan (state budget): -6.4, -5.3, -4.4, -2.9, -2.8, -2.5
- United Arab Emirates (consolidated accounts of the federal government and the emirates, including extra-budgetary funds): -22.6, -20.4, -21.3, -18.1, -19.3, -19.4
- CCA oil and gas exporters: -11.8, -14.2, -13.0, -11.7, -10.5
- MENA oil exporters: -39.5, -29.9, -26.6, -23.3, -24.1, -23.3
- Memorandum: GCC: -44.1, -35.5, -36.3, -31.9, -31.0, -29.4
- Memorandum: MENA oil exporters excl. conflict-affected countries and Iran: -45.8, -37.1, -37.8, -34.2, -35.9, -33.6

### General Government Non-Oil Revenue (Percent of non-oil GDP)
- ME&CA Oil Exporters: 13.7 (2000–18), 15.8 (2019), 14.6 (2020), 13.9 (2021), 14.2 (2022), 13.9 (2023 projections)
- Algeria (central government): 19.2, 23.8, 23.5, 23.0, 20.3, 19.2
- Azerbaijan (general government includes state budget, Nakhchevan AR, SOFAZ, and State Social Protection Fund): 27.5, 25.2, 25.4, 27.2, 27.3, 26.6
- Bahrain (central government): 6.6, 10.7, 9.4, 10.2, 10.7, 10.0
- Iran (central government): 10.0, 8.5, 7.1, 7.2, 7.4, 7.5
- Iraq (central government): 5.6, 4.2, 4.4, 5.2, 5.1, 5.5
- Kazakhstan: 20.4, 16.2, 17.3, 14.6, 17.2, 16.9
- Kuwait (central government and Social Security Fund): 33.3, 31.3, 34.1, 36.6, 39.1, 39.1
- Libya: 15.4, 4.9, 29.5, 4.0, 4.6, 4.9
- Oman (central government): 10.5, 12.1, 10.1, 10.1, 11.3, 12.1
- Qatar: 16.7, 17.0, 15.0, 15.7, 15.6, 15.6
- Saudi Arabia (central government): 9.9, 16.9, 19.3, 20.2, 18.8, 18.8
- Turkmenistan (state budget): 9.5, 8.5, 8.8, 9.3, 9.0, 8.8
- United Arab Emirates (consolidated accounts of the federal government and the emirates Abu Dhabi, Dubai, and Sharjah; from 2010 includes extra-budgetary funds): 14.5, 18.7, 18.7, 20.0, 23.4, 22.1
- CCA oil and gas exporters: 21.5, 16.3, 16.9, 15.8, 17.5, 17.0
- MENA oil exporters: 13.1, 15.7, 14.4, 13.8, 13.9, 13.7
- Memorandum: GCC: 14.1, 18.2, 19.1, 20.3, 20.9, 20.4
- Memorandum: MENA oil exporters excl. conflict-affected countries and Iran: 14.0, 17.1, 18.0, 19.0, 19.1, 18.7

### Total Government Gross Debt (Percent of GDP)
- Middle East and Central Asia: 37.0 (2000–18), 45.9 (2019), 54.4 (2020), 50.4 (2021), 43.4 (2022), 41.2 (2023 projections)
- Oil Exporters: 26.1, 34.0, 43.4, 40.0, 32.6, 31.7
- Algeria (central government): 24.2, 46.0, 52.3, 63.0, 62.7, 70.3
- Azerbaijan: 12.4, 17.7, 21.3, 26.4, 20.7, 22.1
- Bahrain (central government): 39.7, 101.6, 129.7, 128.5, 119.5, 121.7
- Iran (central government and state-owned enterprises): 23.5, 42.7, 44.1, 42.4, 34.2, 31.9
- Iraq (central government): 94.6, 45.2, 84.2, 59.1, 36.7, 34.8
- Kazakhstan: 13.0, 19.9, 26.4, 25.1, 23.3, 24.4
- Kuwait: 13.2, 11.6, 11.7, 8.7, 7.1, 6.9
- Oman (central government): 14.1, 52.5, 69.7, 62.9, 45.4, 41.1
- Qatar: 34.5, 62.1, 72.6, 58.4, 46.9, 43.4
- Saudi Arabia (central government): 31.7, 22.5, 32.4, 30.0, 24.8, 25.1
- Turkmenistan (state budget): 13.5, 15.3, 13.1, 11.1, 8.4, 6.8
- United Arab Emirates: 12.4, 27.1, 39.7, 34.7, 30.7, 29.5
- Emerging Market and Middle-Income Countries: 70.8, 78.9, 82.2, 85.0, 83.9, 77.4
- Selected others (examples): Egypt: 83.0, 80.1, 85.3, 89.2, 89.2, 85.6; Pakistan: 55.6, 77.5, 79.6, 74.9, 77.8, 71.1; Tunisia: 52.5, 69.0, 82.8, 81.8, 88.8, 89.2
- CCA: 16.5, 23.5, 29.8, 28.2, 25.3, 25.8
- CCA oil and gas exporters: 12.4, 18.7, 22.9, 22.6, 19.8, 20.4
- MENA: 37.2, 45.7, 55.1, 50.6, 42.8, 40.7
- MENA oil exporters: 26.9, 35.6, 45.5, 41.5, 33.6, 32.7
- Memorandum: GCC: 24.4, 30.4, 41.1, 36.4, 30.1, 29.7
- Fragile states and conflict-affected countries: 83.9, 74.6, 102.1, 91.8, 65.6, 53.3

### Total Government Net Debt (Percent of GDP)
- Middle East and Central Asia: 21.7 (2000–18), 34.8 (2019), 41.8 (2020), 42.3 (2021), 36.0 (2022), 33.0 (2023 projections)
- Oil Exporters: 2.4, 15.4, 25.8, 28.6, 22.1, 20.4
- Algeria (central government): -5.8, 30.5, 44.0, 51.9, 57.3, 64.9
- Iran (central government and state-owned enterprises): 11.8, 32.9, 36.1, 36.1, 28.6, 26.6
- Kazakhstan: -12.2, -13.9, -8.6, -3.3, -1.9, -0.9
- Oman (central government): -19.8, 11.2, 28.5, 25.5, 15.4, 11.0
- Saudi Arabia (central government): 3.5, 4.9, 15.9, 17.7, 9.1, 5.4
- Emerging Market and Middle-Income Countries: 65.9, 76.4, 78.6, 82.0, 81.5, 75.1
- Egypt (includes IMF obligations): 66.4, 74.6, 79.7, 84.5, 84.5, 80.9
- Jordan (central government): 71.9, 77.3, 87.9, 91.8, 90.9, 89.7
- Pakistan: 51.3, 70.2, 72.9, 67.4, 71.5, 66.1
- MENA oil exporters: 3.0, 18.5, 28.9, 31.0, 23.8, 21.9
- MENA: 20.1, 33.7, 41.5, 42.4, 34.8, 32.0
- Memorandum: GCC: 1.1, 5.5, 17.1, 18.4, 9.7, 5.9

### Exports of Goods and Services (Billions of U.S. dollars)
- Middle East and Central Asia: 1086.0 (2000–18), 1473.8 (2019), 1114.6 (2020), 1516.9 (2021), 2085.9 (2022), 2037.4 (2023 projections)
- Oil Exporters: 913.3, 1236.4, 920.4, 1294.3, 1799.5, 1738.7
- Algeria: 48.4, 38.6, 24.9, 41.8, 60.3, 53.0
- Azerbaijan: 19.4, 23.6, 15.2, 25.5, 46.2, 49.0
- Iran: 84.2, 71.5, 54.1, 86.0, 121.1, 117.4
- Iraq: 61.6, 96.7, 54.1, 94.2, 155.2, 136.9
- Kazakhstan: 50.3, 65.9, 52.4, 66.2, 90.8, 88.6
- Kuwait: 66.8, 73.3, 46.9, 71.4, 112.6, 100.8
- Oman: 32.2, 43.6, 35.7, 46.1, 66.1, 62.6
- Qatar: 67.5, 92.0, 70.9, 105.5, 145.3, 149.2
- Saudi Arabia: 232.1, 285.9, 182.8, 286.5, 432.4, 405.5
- United Arab Emirates: 235.3, 404.0, 350.3, 425.1, 517.0, 523.8
- CCA: 95.8, 137.8, 103.5, 137.3, 195.2, 200.5
- MENA: 966.2, 1304.3, 981.7, 1348.0, 1851.4, 1794.0
- MENA oil exporters: 836.2, 1135.2, 844.9, 1191.8, 1650.6, 1589.0
- MENA oil importers: 129.9, 169.1, 136.7, 156.2, 200.7, 205.0
- Memorandum: GCC: 655.0, 928.5, 711.9, 969.9, 1314.0, 1281.7

### Imports of Goods and Services (Billions of U.S. dollars)
- Middle East and Central Asia: 916.1 (2000–18), 1394.8 (2019), 1166.0 (2020), 1344.4 (2021), 1612.4 (2022), 1658.6 (2023 projections)
- Oil Exporters: 668.0, 1018.3, 849.0, 974.0, 1158.0, 1198.4
- Algeria: 42.6, 54.3, 42.9, 44.3, 47.6, 52.0
- Azerbaijan: 11.4, 17.7, 15.5, 16.3, 20.3, 22.3
- Iran: 68.0, 74.1, 54.8, 75.5, 90.3, 88.4
- Iraq: 59.4, 92.7, 69.0, 72.8, 104.8, 99.8
- Kazakhstan: 36.8, 51.5, 45.2, 47.3, 50.8, 51.8
- Kuwait: 35.4, 55.8, 41.6, 50.9, 62.8, 65.9
- Oman: 23.1, 32.6, 34.1, 37.2, 43.0, 43.8
- Qatar: 34.5, 66.8, 59.1, 61.2, 73.9, 77.0
- Saudi Arabia: 152.1, 218.9, 182.2, 213.0, 237.4, 251.9
- United Arab Emirates: 192.1, 321.5, 273.7, 320.4, 387.3, 404.4
- CCA: 83.1, 130.7, 112.0, 126.4, 150.4, 160.1
- MENA: 791.1, 1194.0, 994.6, 1155.3, 1377.9, 1419.4
- MENA oil exporters: 611.9, 941.9, 780.7, 902.8, 1078.0, 1114.6
- MENA oil importers: 179.1, 252.0, 213.9, 252.5, 299.9, 304.8
- Memorandum: GCC: 454.4, 720.8, 613.9, 710.2, 835.3, 874.4

### Current Account Balance (Billions of U.S. dollars)
- Middle East and Central Asia: 145.8 (2000–18), 17.3 (2019), -105.7 (2020), 121.8 (2021), 406.5 (2022), 333.0 (2023 projections)
- Oil Exporters: 174.7, 77.6, -67.3, 171.0, 473.6, 391.5
- Algeria: 5.2, -17.0, -18.7, -4.6, 11.6, 1.1
- Azerbaijan: 5.8, 4.4, -0.2, 8.3, 22.2, 22.4
- Bahrain: 0.8, -0.8, -3.2, 2.6, 3.7, 2.2
- Iran: 17.3, -1.7, -0.7, 11.1, 32.0, 30.2
- Iraq: 1.0, 0.8, -18.3, 16.2, 46.1, 35.5
- Kazakhstan: -0.5, -7.2, -6.6, -5.7, 6.7, 4.4
- Kuwait: 31.2, 17.1, 13.4, 22.1, 53.3, 39.6
- Oman: 1.0, -4.0, -12.6, -5.2, 6.7, 4.0
- Qatar: 19.0, 4.3, -2.9, 26.4, 46.9, 51.8
- Saudi Arabia: 60.6, 38.2, -22.8, 44.3, 161.5, 122.7
- United Arab Emirates: 27.1, 37.3, 21.1, 48.0, 74.2, 64.8
- CCA: 1.8, -8.0, -13.3, -4.3, 24.5, 21.1
- CCA oil and gas exporters: 3.4, -1.4, -8.6, 2.9, 30.7, 28.9
- MENA: 146.0, 36.5, -90.2, 128.9, 399.4, 321.3
- MENA oil exporters: 171.3, 79.0, -58.7, 168.0, 442.9, 362.7
- MENA oil importers: -25.3, -42.5, -31.4, -39.1, -43.5, -41.4
- Memorandum: GCC: 139.8, 92.1, -17.0, 138.2, 346.4, 285.1

### Current Account Balance (Percent of GDP)
- Middle East and Central Asia: 6.1 (2000–18), 0.4 (2019), -2.5 (2020), 2.3 (2021), 6.5 (2022), 5.2 (2023 projections)
- Oil Exporters: 9.2, 2.5, -2.2, 4.3, 9.6, 7.8
- Algeria: 6.1, -9.9, -12.9, -2.8, 6.2, 0.6
- Azerbaijan: 7.8, 9.1, -0.5, 15.2, 31.7, 31.4
- Bahrain: 4.0, -2.1, -9.3, 6.7, 8.6, 5.0
- Iran: 4.2, -0.3, -0.1, 0.7, 1.6, 1.5
- Iraq: -0.6, 0.4, -10.8, 7.8, 16.3, 13.0
- Kuwait: 27.4, 12.5, 3.2, 16.3, 29.1, 23.0
- Oman: 3.6, -4.5, -17.0, -6.1, 6.2, 3.6
- Qatar: 17.6, 2.4, -2.0, 14.7, 21.2, 22.1
- Saudi Arabia: 12.8, 4.8, -3.2, 5.3, 16.0, 12.3
- United Arab Emirates: 9.6, 8.9, 5.9, 11.4, 14.7, 12.5
- CCA: 0.0, -2.0, -3.6, -1.0, 4.8, 3.8
- CCA oil and gas exporters: 0.3, -0.5, -3.2, 0.9, 8.3, 7.3
- MENA: 7.1, 1.1, -2.6, 2.9, 7.4, 5.9
- MENA oil exporters: 9.9, 2.8, -2.1, 4.6, 9.7, 7.8
- MENA oil importers: -3.9, -6.3, -4.5, -5.1, -5.2, -4.9
- Memorandum: GCC: 13.3, 5.5, -1.2, 8.2, 16.7, 13.7

### Gross Official Reserves (Billions of U.S. dollars)
- Middle East and Central Asia: 892.1 (2000–18), 1140.6 (2019), 1078.3 (2020), 1119.0 (2021), 1314.7 (2022), 1496.1 (2023 projections)
- Oil Exporters: 777.2, 961.2, 887.7, 929.5, 1147.0, 1309.0
- Algeria: 105.3, 61.5, 46.9, 45.4, 57.4, 60.1
- Azerbaijan: 5.3, 6.3, 6.4, 7.1, 7.3, 7.5
- Bahrain: 3.2, 3.7, 2.2, 4.7, 9.4, 12.2
- Iran (footnote 1 applies in the source): 73.5, 15.0, 13.8, 17.7, 30.8, 42.2
- Iraq: 44.2, 68.0, 54.4, 64.2, 94.7, 119.8
- Kazakhstan: 19.4, 29.1, 35.7, 34.4, 35.6, 37.7
- Kuwait: 20.5, 39.9, 48.3, 44.9, 52.3, 58.9
- Libya: 66.9, 75.9, 66.3, 72.0, 78.4, 88.1
- Oman: 10.7, 16.7, 15.0, 19.7, 24.4, 28.0
- Qatar: 17.9, 39.7, 40.9, 42.2, 63.5, 80.1
- Saudi Arabia (footnote 2): 369.8, 497.3, 451.4, 449.5, 532.3, 589.8
- United Arab Emirates (consolidated accounts): 47.5, 108.1, 106.5, 127.8, 161.0, 184.5
- Emerging Market and Middle-Income Countries: 91.0, 131.9, 136.3, 142.1, 119.1, 138.9
- Egypt: 22.6, 43.9, 37.2, 39.4, 33.1, 41.4
- Tunisia: 6.2, 7.4, 9.1, 8.7, 9.2, 10.1
- Low-Income Developing Countries: 23.9, 47.4, 54.3, 47.4, 48.6, 48.3
- Djibouti: 0.2, 0.5, 0.7, 0.6, 0.6, 0.6
- Mauritania: 0.4, 1.1, 1.5, 2.3, 1.7, 1.4

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

### Section 4

### statisticalappendix - Section 4

### Gross International Reserves — notes and selected figures
- Staff adjustment: "only 10 percent of the previously reported gross international reserves other than Iran’s SDR holdings and reserve position at the Fund were readily available for BOP purposes in 2019."
- Starting from 2020, "gross international reserves are assumed to accumulate or decumulate with the estimated BOP surpluses or deficits, and from 2021 with the new SDR allocation approved in August 2021."
- Example: "in 2021, total gross reserves are estimated at about $122 bn, while total usable resreves are estimated at $17.7 bn."
- Selected country/regional series (sequence of values as presented):
  - Sudan: 1.3 3.0 1.6 2.3 2.2 2.3
  - Tajikistan: 0.4 1.5 2.2 2.5 3.0 3.4
  - Uzbekistan: 13.2 29.2 34.9 35.1 37.7 38.0
  - Yemen: 4.3 1.4 0.9 1.7 1.1 0.7
  - CCA: 42.8 74.5 88.3 89.4 93.2 95.4
  - MENA: 837.0 1050.2 968.0 1012.3 1211.7 1384.6
  - MENA oil exporters: 752.4 925.9 845.6 888.1 1104.1 1263.8
  - MENA oil importers: 84.5 124.4 122.4 124.2 107.6 120.8

### Table 22. Total Gross External Debt (Percent of GDP) — averages and projections
- Regional aggregates:
  - Middle East and Central Asia: 33.0 (Average 2000–18), 46.5 (2019), 51.2 (2020), 41.6 (2021), 35.8 (2022), 34.8 (2023)
  - Oil Exporters: 30.1, 41.4, 46.7, 37.2, 30.9, 30.8
  - Emerging Market and Middle-Income Countries: 40.3, 57.6, 58.1, 51.9, 45.0, 45.2
  - Low-Income Developing Countries: 49.6, 74.0, 90.3, 81.8, 82.2, 70.7
  - CCA: 58.0, 64.9, 74.5, 64.7, 55.3, 51.9
  - MENA: 30.9, 45.3, 49.9, 39.9, 33.8, 32.6
- Selected countries (2000–18 average; 2019; 2020; 2021; 2022; 2023):
  - Algeria: 12.5 2.2 2.5 1.9 1.7 1.7
  - Bahrain: 123.7 204.9 231.7 226.8 207.3 207.9
  - Iraq: 128.3 29.1 48.5 33.1 22.0 21.6
  - Kazakhstan: 83.8 87.5 98.0 84.9 72.8 66.5
  - Lebanon: 176.1 348.9 627.1 .........
  - Morocco: 29.4 36.6 41.7 38.3 37.0 36.2
  - Pakistan: 25.9 39.0 39.9 34.5 38.8 40.4
  - Sudan: 101.0 198.9 246.8 178.8 189.4 155.1
  - Tajikistan: 60.5 65.6 75.9 67.2 61.2 64.3
  - Uzbekistan: 23.9 43.6 58.3 58.8 56.3 53.6
  - Yemen: 29.6 32.6 31.8 30.6 26.9 23.4
- Memorandum groups:
  - Arab World: 36.7 55.7 69.3 62.0 53.2 51.9
  - GCC: 31.8 58.6 77.2 70.7 59.8 61.1
  - Fragile states and conflict-affected countries: 90.4 85.1 113.7 91.5 60.5 45.6

Notes (as presented):
- "Total Gross external debt is converted to local currency using end of period exchange rate, after which it is divided by nominal GDP."
- Country footnotes such as exclusions: "Excluding publicly guaranteed debt", "Excludes intercompany loans", "Excludes deposits of nonresidents held in the banking system", "Includes non-resident deposits", "Includes bank deposits of nonresidents", "Public external debt only."

### Table 23. Gross Official Reserves (In months of next year's imports) — averages and projections
- Regional aggregates:
  - Middle East and Central Asia: 9.5 (Average 2000–18), 11.1 (2019), 9.0 (2020), 7.9 (2021), 9.1 (2022), 9.8 (2023)
  - Oil Exporters: 10.8, 12.6, 10.2, 9.0, 10.8, 11.8
  - Emerging Market and Middle-Income Countries: 5.4, 6.4, 5.5, 4.6, 4.0, 4.4
  - Low-Income Developing Countries: 6.3, 9.1, 8.1, 7.2, 6.8, 6.1
  - CCA: 5.6, 8.6, 8.9, 7.6, 7.4, 7.2
  - MENA: 10.1, 11.8, 9.4, 8.2, 9.7, 10.6
- Selected countries (2000–18; 2019; 2020; 2021; 2022; 2023):
  - Algeria: 25.9 17.2 12.7 11.4 13.3 13.4
  - Bahrain: 2.2 1.9 1.0 1.8 3.6 4.6
  - Iran: 11.3 3.3 2.2 2.4 4.2 5.7
  - Iraq: 7.9 11.8 9.0 7.4 11.4 13.7
  - Kazakhstan: 5.5 7.7 9.0 8.1 8.3 8.4
  - Saudi Arabia: 24.0 32.8 25.4 22.7 25.4 26.1 (note: Saudi Arabia Monetary Agency gross foreign assets)
  - Uzbekistan: 11.0 15.5 15.1 11.9 11.1 9.7
  - Sudan: 2.1 3.6 2.1 2.9 2.4 2.2
  - Tajikistan: 1.4 5.6 6.3 6.0 7.3 7.6
  - Yemen: 6.5 2.0 1.2 1.6 1.1 0.7
- Memorandum groups:
  - Arab World: 10.1 12.3 9.9 8.6 10.1 10.9
  - GCC: 10.4 13.8 11.2 9.9 11.6 12.4
  - Fragile states and conflict-affected countries: 7.1 10.4 7.3 6.2 8.7 10.3

Notes (as presented):
- Reiteration of staff adjustment for Iran's reserves and example: "in 2021, total gross reserves are estimated at about $122 bn, while total usable reserves are estimated at $17.7 bn."
- Footnotes: "Gold and encumbered assets are excluded.", "Reserve assets in non-convertible currencies are excluded.", and other data source notes.

### Table 24. Capital Adequacy Ratios (Percent of risk-weighted assets) — banking sector time series (selected)
- Time series values by country (Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22) as presented for selected entries:
  - Bahrain (retail banks): 0.5 0.7 0.8 0.3 0.6 0.8 1.1 0.3 0.6
  - Iraq: 0.9 0.8 1.1 0.8 1.1 0.8 0.7 ...... (data gap)
  - Kazakhstan: 3.0 3.1 3.1 3.1 3.9 4.4 ............
  - Kuwait: 0.9 0.8 0.6 0.6 0.8 0.9 1.1 1.2 1.2
  - Qatar: 1.4 1.4 1.4 1.5 1.4 1.5 1.4 1.5 1.5
  - Saudi Arabia: 1.2 1.4 1.5 1.7 1.8 1.9 1.8 2.1 ...
  - United Arab Emirates (national banks): 0.8 0.8 0.7 0.9 1.0 1.1 1.2 1.3 1.4
  - Armenia: 1.8 1.6 1.3 1.1 0.8 0.9 1.1 2.3 3.7
  - Egypt (after tax): 1.8 1.8 1.8 1.2 1.2 1.2 1.2 1.2 1.2
  - Georgia (cumulative and annualized): -2.3 -0.8 0.1 2.8 4.0 4.1 3.9 3.1 3.1
  - Pakistan: 1.9 1.9 1.8 1.5 1.6 1.6 1.6 1.8 ...
  - Sudan: 1.9 2.5 3.3 4.8 4.6 4.2 .........
  - Tajikistan: 1.9 2.2 2.5 2.9 3.0 2.6 1.1 4.1 9.1
  - Uzbekistan: 2.2 2.2 2.2 2.0 2.0 2.0 1.3 ......
Notes:
- Footnotes identify bank coverage differences: retail banks, national banks only, after tax, cumulative and annualized.

### Table 25. Return on Assets (Percent; before taxes) — banking sector time series (selected)
- Time series values by country (Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22) as presented for selected entries:
  - Bahrain (retail banks): 4.5 4.6 4.2 4.0 3.8 3.6 3.2 3.5 3.3
  - Iran: 10.1 7.8 7.4 6.2 6.1 5.7 5.4 4.8 ...
  - Iraq: 18.7 19.1 21.0 19.6 17.8 18.1 18.5 ......
  - Kazakhstan: 9.0 8.4 6.9 7.1 4.8 ............
  - Kuwait: 2.6 2.7 2.0 2.3 2.4 1.9 1.4 1.4 1.5
  - Oman: 4.0 4.0 4.2 4.2 4.2 4.1 4.2 4.3 4.3
  - Qatar: 2.1 2.1 2.0 2.2 2.1 2.2 2.4 2.7 2.8
  - Saudi Arabia: 2.3 2.2 2.2 2.2 2.1 2.0 1.9 1.8 ...
  - United Arab Emirates (national banks): 7.0 7.2 7.6 7.6 7.6 7.5 7.3 7.1 6.9
  - Armenia: 5.7 6.0 6.6 7.1 6.1 2.9 1.9 1.8 2.9
  - Egypt (end of fiscal year referent): 3.9 3.4 3.6 3.5 3.5 3.6 3.5 3.3 3.2
  - Morocco: 8.0 8.4 8.4 8.6 8.4 8.6 8.6 8.6 8.4
  - Pakistan: 9.7 9.9 9.2 9.3 8.9 8.8 7.9 7.9 ...
  - Tajikistan (overdue by 30 days or more): 31.0 28.5 23.8 23.1 15.5 14.9 13.7 14.2 13.4
  - Uzbekistan: 2.8 2.6 2.1 3.5 5.5 5.7 5.1 ......
  - Sudan: 2.2 3.1 1.5 2.4 1.5 1.3 .........
Notes:
- Footnotes indicate definitions and data referents (retail banks, national banks only, loans overdue definitions, end of fiscal year).

### Table 26. Nonperforming Loans (Percent of total gross loans; 90-day basis)
- Table header present, but no numeric series printed in the supplied excerpt beyond table title and notes.

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

*Statistical appendix — Section 4 (tables and notes as provided in the source PDF).*

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_Source: https://www.imf.org/-/media/files/publications/reo/mcd-cca/2022/october/english/statisticalappendix.pdf_