Regional Economic Outlook, October 2008, Middle East and Central Asia
Middle East and Central Asia, October 21, 2008
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- Regional Economic Outlook, October 2008, Middle East and Central Asia
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Bibliographic details
- Published: October 21, 2008
- Series: Middle East and Central Asia
- DOI: https://doi.org/10.5089/9781589067622.086
Executive summary / major findings
- The region has continued to experience strong growth in 2008.
- The short-term outlook is generally favorable.
- Inflation has emerged as a key issue.
- The global credit crunch has thus far had a limited impact on regional financial markets.
- The financial turmoil and slowdown in developed economies could lower growth in the period ahead.
Risks and scenarios
- Limited immediate impact scenario:
- Global credit crunch continues to have only limited direct effects on regional financial markets.
- Regional growth remains strong in the near term.
- Downside scenario:
- Financial turmoil and slowdown in developed economies transmit to the region and lower growth in the period ahead.
- Inflation pressures could complicate policy responses if growth weakens.
Policy recommendations
- Tighten the fiscal stance where appropriate.
- Tighten the monetary stance where appropriate.
- Increase exchange rate flexibility.
- Continue efforts to strengthen the resilience of financial sectors.
Thematic issues highlighted
- Inflation: identified as a key emerging concern requiring policy attention.
- Financial sector resilience: ongoing strengthening needed despite limited initial impact from global credit disruptions.
- External environment: slowdown in developed economies represents a material downside risk to regional growth.
Regional Economic Outlook, October 2008, Middle East and Central Asia — October 21, 2008
Content in this bundle
- Middle East and Central Asia Regional Economic Outlook -- October 2008
References
- https://www.imf.org/en/publications/reo/meca
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