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

Regional Economic Outlook, October 19, 2020

Source details

Canonical URL

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

Other formats

• Markdown version
• Structured JSON version
• Bundle manifest

Bibliographic details

• Published: October 19, 2020
• Series: Regional Economic Outlook
• DOI: https://doi.org/10.5089/9781513558165.086

Executive summary and regional context

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

Key findings and themes

• Public health response: swift and stringent containment measures were widely implemented across MENAP and CCA.
• Economic shock: the pandemic induced significant economic contractions, intensified for oil exporters by sharply lower oil demand and prices.
• Social protection: cushioning income losses and expanding social spending are prioritized to protect vulnerable populations.
• Recovery priorities: policymaking should pivot toward recovery and rebuilding stronger economies while addressing crisis legacies and enhancing inclusion.

Subjects and keywords covered

• Subjects: COVID-19, Credit, Crisis management, Crisis recovery and resolution planning, Economic forecasting, Education, Fiscal space, Fluctuating oil revenues, Health, Monetary policy, Oil, Organization of Petroleum Exporting Countries (OPEC), Regional Economic Outlook, Remittances, Stress testing, Tourism
• Keywords: IMF staff calculation, MCD country, MCD firm, MCD region, oil exporter, oil importer, oil revenue, OPEC+, public health, rebuilding, REO, reopening

Content in this bundle

• October 2020 Regional Economic Outlook: Middle East and Central Asia
  • October 2020 Regional Economic Outlook: Middle East and Central Asia (Markdown version)
  • October 2020 Regional Economic Outlook: Middle East and Central Asia (PDF)