{
  "title": "Unleashing Growth Potential in the Middle East",
  "publication": "IMF Blog, February 24, 2011",
  "sourceUrl": "https://www.imf.org/en/blogs/articles/2011/02/24/middle-east-growth-potential",
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  "summary": "Recent popular protests in the Middle East and North Africa region, although likely to have a negative economic impact in the short run, might actually help to unleash the countries’ long-term growth potential.",
  "sections": [
    {
      "heading": "Short-run economic impact",
      "content": "- Recent popular protests in the Middle East and North Africa region, although likely to have a negative economic impact in the short run, might actually help to unleash the countries’ long-term growth potential.\n- The economic and social costs of chronically high unemployment in the region have been on the IMF's radar for some time."
    },
    {
      "heading": "Reforms, governance, and competition",
      "content": "- By providing the impetus for reforms, these events may encourage:\n  - better governance,\n  - greater transparency,\n  - more competition.\n- These reforms address many of the constraints that have held back progress in these societies."
    },
    {
      "heading": "Unemployment and private sector job creation",
      "content": "- Creating opportunities for the private sector to provide more jobs is identified as the major policy priority.\n- This priority is especially important in those countries “where unemployment has been a problem for many years”."
    },
    {
      "heading": "Social safety nets — design and priorities",
      "content": "- Measures will be needed to ease the human costs of today’s social pressures.\n- Priority should be designing a well-targeted social safety net.\n- Characteristics of well-targeted schemes:\n  - Provide assistance only to those most needy.\n  - Target people, not products.\n- Contrast with generalized subsidies that benefit everyone, which are implied to be less sustainable and less efficient."
    },
    {
      "heading": "Additional commentary and outreach",
      "content": "- Masood Ahmed discussed events in the region, the policy challenges, and actions that might help these countries recognize their full potential in a recent interview (video below).\n\nMasood Ahmed — February 24, 2011\n\n---\n\n\n References\n\n- chronically high unemployment\n- late last year\n- Managing Director stressed\n\nSource: https://www.imf.org/en/blogs/articles/2011/02/24/middle-east-growth-potential"
    }
  ],
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    "Authors: Masood Ahmed",
    "Published: February 24, 2011",
    "Recent popular protests in the Middle East and North Africa region, although likely to have a negative economic impact in the short run, might actually help to unleash the countries’ long-term growth potential.",
    "The economic and social costs of chronically high unemployment in the region have been on the IMF's radar for some time.",
    "By providing the impetus for reforms, these events may encourage:",
    "These reforms address many of the constraints that have held back progress in these societies.",
    "Creating opportunities for the private sector to provide more jobs is identified as the major policy priority.",
    "This priority is especially important in those countries “where unemployment has been a problem for many years”.",
    "Measures will be needed to ease the human costs of today’s social pressures.",
    "Priority should be designing a well-targeted social safety net.",
    "Characteristics of well-targeted schemes:",
    "Contrast with generalized subsidies that benefit everyone, which are implied to be less sustainable and less efficient.",
    "Masood Ahmed discussed events in the region, the policy challenges, and actions that might help these countries recognize their full potential in a recent interview (video below).",
    "[chronically high unemployment](http://www.imf.org/external/pubs/ft/survey/so/2007/CAR051D.htm)",
    "[late last year](http://blogs.imf.org/2010/10/31/more-than-18-million-jobs-needed/)",
    "[Managing Director stressed](http://www.imf.org/external/np/speeches/2010/110410.htm)"
  ],
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